According to @BitcoinCharts, Bitcoin (BTC) has formed a classic bull pennant pattern following a textbook retest, indicating a highly bullish technical outlook. The chart analysis sets a target price of $167,000 for BTC based on the bull pennant breakout, which suggests significant upside for traders. Technical confirmation of this pattern is viewed as a strong continuation signal, attracting momentum-focused traders and increasing capital inflows into BTC, as noted by @BitcoinCharts.