By Nermeen Nabil Khear 
Bitcoin continued to trade sideways on Wednesday, facing stiff resistance in the $86,000–$88,000 range.
Notably, the price has struggled to gain momentum, recently slipping below the critical 200-day simple moving average (SMA). This comes as ongoing tariff tensions, fueled by President Trump’s latest policy moves, rattle global markets.
Despite the lackluster price action, several leading crypto analysts have turned their attention to Bitcoin’s current setup, with some predicting a potential breakout. One such expert, Titan of Crypto, believes the leading digital asset could surge to $137,000 by September, possibly setting a new all-time high.
According to Titan, Bitcoin has formed a bullish pennant pattern on the daily chart, a technical formation that typically signals the continuation of an upward trend.
“Bitcoin $137,000 in the Cards? BTC has formed a bull pennant on the daily chart. If it plays out, a new ATH could be reached, right against current market sentiment,” Titan tweeted recently.
This projection comes amid increased optimism following recent developments regarding tariff exemptions. Data analytics firm Santiment has observed a significant uptick in positive sentiment across crypto communities.
“There has been an increased level of bullishness pouring in from the crypto crowd Monday. Ever since the tariff exemptions announced over the weekend, Bitcoin in particular has had a flood of optimistic calls,” Santiment researchers noted. They added that this represents “the highest level of positive commentary since the day before Trump announced tariffs.”
Adding further credence to the bullish outlook, CryptoQuant analyst Darkforst highlighted the resilience of large Bitcoin holders during the current period of macroeconomic uncertainty. Through analysis of Binance whale behavior, the analyst concluded that major investors are maintaining their positions rather than panicking.
“During this complicated period, it appears that Binance whales are not panicking. On the contrary, both the Exchange Whale Ratio and whale inflows on Binance are decreasing. This suggests that whales currently prefer to hold rather than sell massively and capitulate,” the analyst explained.
Additionally, $100,000 Bitcoin call options have become the most popular position on the Deribit derivatives platform, signaling strong institutional belief in further upside.
However, potential obstacles remain on Bitcoin’s path to six figures. CoinGlass experts have identified a “selling overhang” in the $85,700-$86,000 range, indicating substantial resistance at these levels.
BTC was trading at $84,368 at press time, reflecting a 0.74% drop in the past 24 hours.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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