Bitcoin is currently facing signs of a potential bearish reversal, with its price testing a critical support level around $100,800. A breakdown below this neckline could lead to a drop toward $91,000, further jeopardizing the possibility of reaching the optimistic target of $150,000 by the end of 2025. The weekly chart shows a bearish divergence resembling the patterns seen during the 2021 cycle top, which preceded significant corrections. Veteran trader Peter Brandt warns that unless Bitcoin reclaims its parabolic trendline soon, the current bullish cycle may end, following previous trends of 50-60% drawdowns. However, some analysts still see potential for Bitcoin to achieve the $150K price point, comparing its current trajectory to gold's breakout in the 2000s. Onchain metrics suggest Bitcoin is nearing a 'start' rally zone, raising hopes for a bullish impulse that could lift prices toward the $150,000–$175,000 range, reminiscent of previous market cycles.

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