Analyst: BTC is expected to rise to $130,000 in August, but there may be a risk of a pullback

Planet Daily News: Analyst Peter Brandt previously predicted that Bitcoin's price would rise to $125,000 to $150,000 in August or September, pointing out that it would show a parabolic upward trend over multiple years, and his prediction has been accurately fulfilled as of July. Analysis indicates that Bitcoin has entered a breakthrough phase that appears to be a "bull market flag" formation, with parallel trend lines formed after a strong upward trend (flagpole) confirming this. Currently, BTC is expected to rise to $130,000 in August, which is calculated by adding the flagpole height to the breakout point. However, Peter Brandt warns that after reaching the $125,000 to $150,000 range, Bitcoin might experience a 50% pullback. Nevertheless, some analysts believe that the upward momentum will continue after breaking through $150,000. (Cointelegraph)