Will Bitcoin breakout $144,000 after this bullish signal?

Bitcoin is continuing to rise as it successfully breaks out of a bullish pattern. Analysts believe that BTC may soon hit the $144,000 mark. This scenario is further supported by historical factors and the imbalance between Long/Short liquidation.

Bull flag pattern targets Bitcoin price at $144,000

The price of Bitcoin has officially surpassed the bull flag pattern — a continuation pattern that often signals that the bullish trend will continue.

Analyst Merlijn The Trader has clearly identified the ratio between the length of the flagpole and the breakout point, thus forecasting that the BTC price target could reach the mark of 144,000 dollars.

! Source: Merlijn The TraderThe decline began after weeks of sideways price in a descending channel pattern. The original flagpole was formed when Bitcoin surged to $105,000.

After the consolidation phase in the range of 98,000 – 102,000 dollars, Bitcoin has closed above the upper channel line. Based on the breakout zone and the height of the flagpole, analysts have measured a price target at 144,000 dollars.

This level becomes increasingly noteworthy as it coincides with significant Fibonacci levels and is a major psychological target for the bulls. As long as the price of Bitcoin continues to maintain above the breakout zone, the current technical structure still supports the continuation of the bullish trend.

Golden **c****ross established – Matching the bullish scenario in Q4/2024

In addition, Bitcoin's daily chart recently also recorded a Golden Cross – a phenomenon when the 50-day moving average (MA50) cross above the 200-day moving average (MA200). This structure is often seen by long-term investors as a signal that the market is about to enter a period of sustainable growth.

Source: Greg MillerAccording to Greg Miller, there was a similar crossover in Q4/2024. At that time, the price of Bitcoin fell by 10% immediately after the signal, but rose sharply by 60% in just a few weeks afterwards. Similarly, the second quarter of 2025 also recorded a 10% decrease after the Golden cross until the current breakout.

Greg Miller shares:

"In Q4 2024, BTC dropped 10% and then surged by 60%. Now, we have just witnessed a 10% drop after the Golden cross in Q2 2025. If history repeats itself, a strong rally may be just around the corner. I still believe BTC will exceed $130,000 before Q3 2025."

He also explained that the current momentum indicators and trading volume are very similar to previous breakouts, further reinforcing the bullish scenario.

Liquidation imbalance creates strong bullish pressure for Bitcoin

Not only technical analysis, but signals from the derivatives market are also supporting the bullish trend. Cas Abbé points out that the imbalance in liquidation could lead to a strong Short Squeeze.

Data from Bitcoin's liquidation map shows that if the price of BTC increases by 10%, over $15.11 billion in Short positions will be liquidated. Conversely, if the price decreases by 10%, only about $9.58 billion in long positions will be affected.

This clear discrepancy shows that the market is overloaded with shorts, a typical signal before strong bullish bounces of BTC.

Source: Cas AbbéIn addition, the funding rate (phí trợ) assets turned negative last week. This usually indicates that the bears are in control of the market — but paradoxically, this is often a signal that heralds a bull run. When the number of short orders exceeds long orders, the bulls often take advantage of the opportunity to push the price up, forcing the short side to cut losses, creating a short squeeze effect.

According to Abbé, if the price of BTC exceeds the threshold of 110,000 dollars, a series of positions will be liquidated, thereby increasing volatility and potentially pushing the price of Bitcoin rapidly towards higher levels.

Trader loses both the lead and the net due to a 40x Short Bitcoin order failure

Despite the many bullish signals, many traders continue to place risky Short bets. In a typical case, trader James Wynn used 40x leverage to open a Short position on Bitcoin right after receiving the referral bonus.

According to data from Lookonchain, Wynn received a total of 481.42 dollars from the referral program. He used all of this money to open a large Short Bitcoin position. As a result, the position was liquidated just after a few hours. The wrong-direction trade caused Wynn to lose 113.55 dollars, proving that the bearish signal at that time was incorrect.

Source: LookonchainMany times, a strong Short trend usually appears near the top of a bullish rally or during short-term corrections. However, Wynn's Short orders are executed right at the technical breakout point, significantly increasing the likelihood of liquidation.

This shows that placing counter-trend orders when the market is sending clear bullish signals is extremely risky. Shorting with high leverage is particularly dangerous in the context of a clearly bullish market.

When the funding rate imbalance and technical breakout points occur together, traders going against the trend are likely to suffer significant losses.

Wynn's story also reflects a reality: Retail investors are often the ones who bear the highest risk when trying to short against the trend. It also reinforces the view that Bitcoin is still being shorted by many speculative positions.

If the selling pressure continues, the current support levels could serve as a springboard to push BTC above the $110,000 mark, thereby triggering a bullish move towards the $144,000 region.

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