How High Can Bitcoin Go? Bull Flag Targets $180K as BTC Reclaims Six-Figure Price

Bitcoin (BTC) has reclaimed the $100,000 level for the first time in over three months, reigniting bullish sentiment and sparking bold predictions for the remainder of 2025. As of May 9, BTC is up 4.3%, trading around $103,335 after peaking at $104,150 during the New York session the day before.

BTC/USD pair trades above $100K for the first time since Feb. 4. Source: TradingView

The surge has wiped out $800 million in short positions — the largest short liquidation event since 2021 — pushing 24-hour crypto market liquidations above $925 million, according to CoinGlass. This liquidity sweep confirms strong buying pressure and reinforces Bitcoin’s position above key resistance levels.

Investor Sentiment and Technical Momentum Align

Investor sentiment has shifted dramatically, with the Crypto Fear & Greed Index climbing from 65 to 73 in just 24 hours, signaling rising "greed" in the market. Despite technical indicators showing overbought conditions, such as a Relative Strength Index (RSI) above 70, analysts remain bullish.

Crypto Fear and Greed Index. Source: Alternative.me

Crypto analyst GemXBT pointed out that BTC continues to trade above its short- and mid-term moving averages (5MA, 10MA, and 20MA), while the MACD is above the signal line — both of which support further bullish momentum.

BTC/USDT liquidation heatmap. Source: CoinGlass

Short-Term and Long-Term Price Targets

Several analysts have outlined ambitious near-term targets. AlphaBTC projects BTC could rally to $106,000, noting that the price remains within an ascending channel, with Fibonacci retracement levels aligning well with current support zones.

Egrag Crypto has targeted a potential cycle top around $170,000, but cautions that BTC must close above its all-time high of $109,000 for this scenario to hold.

BTC/USD daily chart. Source: TradingView

“I’ve been targeting the $170K range as the potential cycle top — but here’s the key: #BTC must close above $109K. Anything less is just a #BullTrap and a retracement, nothing more,” Egrag posted.

Institutional Optimism and Mega Bull Case

Beyond technicals, the broader macro environment is feeding Bitcoin optimism. Binance founder Changpeng Zhao recently stated he sees Bitcoin reaching between $500,000 and $1 million this cycle, citing institutional adoption, government accumulation, and a pro-crypto stance under the current U.S. administration led by Donald Trump.

BTC/USD 12-hour chart. Source: AlphaBTC

Bull Flag Points to $182K Target

From a technical charting perspective, a key bullish breakout pattern known as a “bull flag” has emerged on the weekly timeframe. After consolidating within a downward-sloping channel, BTC broke out above the upper trendline at $88,000 on April 22.

This pattern suggests Bitcoin could rise by the length of its prior uptrend — placing the next major target at $182,200, a 75% gain from current levels.

BTC/USD weekly chart. Source: TradingView

Final Thoughts

As Bitcoin reclaims six figures, investor sentiment, technical analysis, and macro narratives are converging in favor of a continued rally. While overbought conditions may prompt short-term corrections, the path to $180,000 — and potentially much higher — is now firmly in sight, provided Bitcoin can sustain momentum and break key resistance zones ahead.