Here’s why there’s a possible bitcoin pullback happening before heading from $140,000 to $148K.

According to Xforce Global, Bitcoin retains a bullish technological structure after completing the five-wave impulse. Analysts expect short-term fixes before the next leg gets high.

Analyst Share X Technology Chart shows Bitcoin completing a clean 5-wave impulse from $112,000~$122,000 zones. At this press, Bitcoin traded at $118,721, a 2.7% decline in the past day, reducing weekly profits to 3.8%.

Xforce Global considers this move a bullish confirmation, as its structure and timing coincides with impulsive rally characteristics rather than intense rebounds, despite the potential for short-term pullbacks.

A deeper retracement could expand towards a Fibonacci level of 61.8% for around $107,500. Both $115,500 and $107,500 are important support that matches the Fibonacci Confluence zone. Continuous movement above these levels will keep the bullish wave numbers intact and allow for the possibility of upward continuation without significant structural damage.

In particular, “protected low” exists at $75,000. This serves as a broader invalidation point for bullish outlook. This means breaks below this level will disable the current wave count.

Key Short and Long Term Levels

Meanwhile, the chart reveals a short-term distribution zone between $121,000 and $123,500. Price actions within this range may form a base for a smaller degree of 1-2 wave structure potential nesting prior to the next upward movement.

If the support level is retained and the correction is completed as predicted, the next upward target range is between $140,000 and $148,000, marked as a larger wave (3) of the Elliot Count.

Two scenarios for August

XForce Global is monitoring two hybrid scenarios in August. The first is the continuation of the standard impulse wave where Bitcoin maintains a strong trending structure.

However, the second is the major diagonal fluctuations, which show progress within trendlines where price action converges, often measured but sustained climbing.

In both cases, Xforce Global expects investors to buy dip and help them continue the trend. Trendlines drawn on the chart remain important decision points for verifying or adjusting predictions.

Other analysts’ weight

Meanwhile, another analysis shows trend Bitcoin Share A weekly Bitcoin chart showing the current bull market is in its early stages. This chart highlights the recurring patterns across past cycles where profits in July and August typically lead to pullbacks in September, formation of the market cycle top, and the start of bare markets.

In the current cycle, Bitcoin is currently below $121,000 in August. The commentary marks the strength of July to August, indicating the possibility of a September decline before the cycle peak.

More fartherBull Theory Posted X has the weekly chart of that Bitcoin show The breakout success has exceeded $109,000, and sellers are unable to push back prices below this level.

This pattern features the first red candle marking a pullback, then a strong green candle is closed near the top, indicating persistent buyer support. The setup is similar to a bullish harami or breakout confirmation, suggesting that a move above the previous high could drive Bitcoin below $123,000.

In particular, analyst Credibull had previously predicted Bitcoin. You can climb to $150,000 The 5 Elliot Wave patterns ongoing are finished. He said the wave began in September 2024, and was strengthened by a fourth-quarter rally related to Donald Trump’s election campaign.

Similarly, Tom Lee from Fundstrat It was predicted Bitcoin is likely to exceed $150,000 in 2025, citing an increase in systemic adoption. He downplayed the $78,000 drop from $102,000 in February as a normal cycle, warning against market timing.