According to Mihir (@RhythmicAnalyst), the current Bitcoin (BTC) market is in a consolidation phase, with the ongoing range expected to last around 20 days based on the BTC chart. Previously, a 9-day consolidation was observed (as indicated by the white box on the chart). Traders are advised to closely monitor the upper and lower edges of the current trading range to anticipate potential breakout or breakdown directions, which can significantly influence short-term trading strategies and volatility (Source: @RhythmicAnalyst on Twitter, May 6, 2025).

According to Trader Tardigrade, a long-term ascending channel pattern observed since 2023 indicates a short-term price target of $117,000 for Bitcoin (BTC). This technical analysis, based on established trendlines, highlights significant upward momentum for BTC and provides traders with a clear price projection for 2025, supporting ongoing bullish sentiment in the cryptocurrency market (source: Trader Tardigrade, Twitter, April 26, 2025).