A long-term Bitcoin indicator tracked by analyst bitcoindata21 is close to flashing again, pointing to the possibility of another price surge.
The signal is triggered whenever the market touches a yellow upward trendline that has historically marked the beginning of major rallies.
This observation comes at a time of subdued sentiment in the crypto market, with growing fears of a bear phase that could see Bitcoin dip below the $100K level. Bitcoin is currently holding at $113,300, down 0.15% over the past day, while its weekly chart shows a 4.71% loss.
In the current setup, Bitcoin is trading around $113,000, while the chart suggests the next touch of the trendline is imminent. The analyst is confident that history will repeat and that the event will serve as the trigger for the next leg higher.
bitcoindata21’s Bitcoin chart
What to Expect from Bitcoin
Commenting on bitcoindata21’s post, one X user remarked that the comeback could see Bitcoin hit $145,000.
Notably, other market watchers are also using technical indicators to call for a rebound. At the same time, some believe there is still a risk of a significant dip.
For instance, analyst CasiTrades has warned of a likely drop to $88K if Bitcoin bulls fail to maintain a price above the $122,000 level.
CasiTrades, a technical analyst with over a decade of experience, believes Bitcoin completed Wave 1 of a corrective pattern at $112,500 and is now in a Wave 2 rebound.
This bounce could push BTC toward the $119,900–$121,900 range, but failure to break higher may trigger a steep Wave 3 decline. However, if Bitcoin surpasses its $124,500 high, the bearish outlook would be invalidated.
Meanwhile, Michael XBT, another veteran market watcher, believes calling for a major dump at this stage is premature.
Everyone is calling for a major crash at support again
They never learn
— Crypto Michael (@MichaelXBT) August 20, 2025
“Road to $1M BTC Remains Intact”
Regardless of Bitcoin’s short-term patterns, there is almost a consensus regarding its long-term uptrend. Many expect Bitcoin to potentially experience a 10X price surge in the coming years. For instance, Coinbase CEO Brian Armstrong has joined other industry leaders in predicting that Bitcoin could reach $1 million within the next five years.