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    “No Red Flags at the Moment,” Asserts Pundit as Multiple BTC Indicators Signal Bull Strength

    Analysts point to rare technical patterns and investor behavior indicating Bitcoin could be on track for a major breakout toward $325,000.
    Newton KitongaBy No Comments4 Mins Read

    TLDR

    1. Analyst Lagen Bitcoin’s chart shows bullish “Cup & Handle” and hidden divergence patterns, with no bearish warnings currently.

    2. He forecasts a blow-off top of $325K before July 5, based on Elliott Wave Theory

    3. Despite profit-taking after Bitcoin’s $112K ATH, on-chain data shows mixed sentiment among whales and long-term holders.

    4. Analysts and institutional buyers remain firmly bullish, projecting exponential upside.

    Bitcoin’s recent performance has caught the attention of investors worldwide, with several analysts pointing to sustained bullish momentum and no immediate signs of a reversal.

    Among them  has been popular technical analyst Gert van Lagen, who shared on Monday though on why he believes BTC could continue surging throughout the year.

    “No Red Flags Ahead”

    In a detailed analysis of Bitcoin’s weekly chart, he noted a repeating pattern of hidden bullish divergence (HBD). According to his him, Bitcoin often shows a sequence of Higher Highs (HHs) in price with Lower Highs (LHs) on the Relative Strength Index (RSI), followed by Higher Lows (HLs) in price and continued LHs on RSI, an arrangement historically linked to strong upward moves. He emphasized that in 2022, such patterns were unreliable when the RSI closed within bear territory, but, crucially, he noted that there are “No red flags at the moment”

    Notably, on Saturday, the pundit shared the same pattern forming on Bitcoin’s linear chart, a classical technical formation often preceding explosive upside, noting that the linear target of $120,000–$130,000 was nearly achieved, while the exponential projection could send Bitcoin as high as $300,000 or more.

    $325K BTC Before July 5?

    Earlier last week, he also shared a bold prediction based on Elliott Wave theory and symmetrical logarithmic charting, suggesting that Bitcoin is currently in Wave 5 of a 16-year cycle. He believes the blow-off top could reach approximately $325,000, possibly as early as July 5.

    Despite this bullish backdrop, Bitcoin began the new week on a quieter note. Trading was relatively flat on Monday, coinciding with the U.S. Memorial Day holiday and a pause in Wall Street activity. Bitcoin hovered around $109,900 after hitting a new all-time high of $111,970 on May 22. Analysts attribute the recent slowdown to profit-taking, with many investors redistributing gains into alternative coins.

    On-Chain Metrics: Accumulation or Distribution?

    On-chain data supports this interpretation. Blockchain analytics platform Glassnode reported that the cohort holding over 10,000 BTC has pivoted to net distribution, indicating some of the largest holders are trimming positions.

    “Accumulation remains broad,” Glassnode noted, “but leadership is shifting down the wallet size curve.”

    Sentora, formerly known as IntoTheBlock, offered additional insight, observing that the current distribution phase is notably different from previous cycles. Historically, long-term holders accumulate during bear markets and distribute into bull runs in a smooth, bowl-shaped pattern. This time, however, distribution began earlier and has unfolded in a more staggered manner, raising questions about BTC’s next move.

    Institutions Still Buying

    Nevertheless, bullish sentiment remains dominant among retail investors and institutional players alike. Popular analyst George from CryptosRUs echoed these sentiments in a monday analysis, noting that “Bitcoin’s Next Stop is  $130,000 and Beyond.” He cited macroeconomic instability, excessive government spending, and the flood of institutional inflows, particularly through Bitcoin ETFs, as key tailwinds for continued upside.

    “There’s only so much Bitcoin to go around,” George said, highlighting that firms like BlackRock, MicroStrategy, and Metaplanet continue to accumulate aggressively. “All this buying, all the DCAing from long-term holders, is removing supply from circulation.”

    He further emphasized that several U.S. states are now proposing favorable crypto regulations, including the potential elimination of capital gains tax on Bitcoin. Meanwhile, major companies such as Cardone Capital are launching real estate funds partially backed by Bitcoin, signaling a potentially larger move.

    At press time, BTC was trading at $109,676, reflecting a 2.26% surge in the past 24 hours.

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