Can Bitcoin Price Breakout to $144K Amid This Bullish Confirmation?

Bitcoin price has risen again after a successful breakout from a bullish pattern. Analysts suggest BTC price could soon reach $144,000. This setup continues to develop as history, and the long-to-short liquidation imbalance builds.

Bull Flag Pattern Projects Bitcoin Price Target at $144K

Bitcoin price has officially broken above a bull flag formation, a continuation pattern that often signals further upside. Analyst Merlijn The Trader identified a clear flagpole-to-breakout ratio, projecting BTC price toward $144,000.

The decline started after weeks of price action within a descending channel. The original flagpole formed during Bitcoin’s vertical climb to $105,000.

After consolidating between $98,000 and $102,000, Bitcoin price has closed above the upper channel line.

Using the breakout zone and the height of the flagpole, the analyst measured a target at $144,000. The alignment with significant

Fibonacci projections and its stature as a main psychological target for bulls make this level especially noteworthy. So long as the top crypto price holds above the breakout, the structure favors a bullish continuation.

Golden Cross Aligns With Q4 2024 Pre-Rally Setup

Additionally, Bitcoin price daily chart recently showed a Golden Cross, where the 50-day moving average surpassed the 200-day. Such a structure shows long-term traders that the market is likely to go up.

According to Greg Miller, there was another crossover in the Q4 of 2024. A decline of 10% happened next and then investors enjoyed a 60% gain in just a few weeks. Similarly, Q2 2025 showed a 10% rise after the crossover until the current breakout.

Greg Miller added,

“In Q4 2024, $BTC dropped 10% and then rallied 60%. We just saw another 10% dip after the Golden Cross in Q2 2025. If history repeats, a major rally could be next. I still believe BTC will break above $130K by Q3 2025.”

He explained that both momentum and volume indicators are now similar to what took place before the previous breaks.

Liquidation Asymmetry Builds Bullish Pressure on Bitcion Price

Moreover, signs in the derivatives market support the rally. Cas Abbé pointed out that the liquidation imbalance could result in a quick squeeze for short sellers.

Data from Bitcoin’s liquidation heatmap showed that a 10% price increase would liquidate over $15.11 billion in short positions.

However, if the price dropped by 10%, it would only create $9.58 billion in long liquidations. This asymmetry indicates a crowded short market.

In addition, the funding rate turned negative last week. This usually suggests that bears are in control, which often leads to rallies. When shorts exceed longs, the bulls are usually encouraged to boost the price so as to push the shorts into losses.

According to Abbé, if prices rise above $110,000, it could lead to numerous liquidations in the market. This would amplify volatility and potentially push BTC price sharply toward the next major level.

Trader Loses Bonus and Capital in Failed 40x BTC Short

However, aggressive short positioning continues, despite multiple bullish signals. In another case, trader James Wynn used 40x leverage in a short trade right after receiving a referral bonus.

According to Lookonchain data, Wynn received a total of 481.42 in referral money. He decided to use up his entire bonus to open a large short position on Bitcoin.

The position was liquidated within hours. This indicates that the bearish report was incorrect, causing a loss of $113.55 for Wynn.

Many times, a strong shorting trend appears near the top of a move or somewhere in a retracement.

Nevertheless, Wynn’s trade happened at a technical breakout point, increasing the possibility of getting liquidated. It shows that making trades against bullish signals that suggest several up trends can be risky.

High-leverage shorting is especially dangerous in confirmed uptrends. If funding asymmetry and breakouts are also at play, it can lead to big losses for traders who go against the main trend.

Wynn’s story reflects that retail short sellers often face high-risk situations. It also reinforces the argument that BTC remains heavily shorted by speculative shorts.

If selling continues, these support points might create a move past $110,000 and lead to a rally close to $144,000.

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