{"id":6317,"date":"2025-08-10T04:11:09","date_gmt":"2025-08-10T04:11:09","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-volume-shelf-indicates-possible-launch-to-131000-analyst\/"},"modified":"2025-08-10T04:11:09","modified_gmt":"2025-08-10T04:11:09","slug":"bitcoin-volume-shelf-indicates-possible-launch-to-131000-analyst","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-volume-shelf-indicates-possible-launch-to-131000-analyst\/","title":{"rendered":"Bitcoin Volume Shelf Indicates Possible Launch To $131,000 \u2013 Analyst"},"content":{"rendered":"

Following the steep corrections seen in late July, the Bitcoin market made a modest recovery in the past week, rising by 2.73% according to data from CoinMarketCap<\/a>. However, another rejection amidst this price resurgence forces the premier cryptocurrency to now trade within the $116,000 price region. While the crypto market awaits the token\u2019s next move, cumulative trading activity signals potential for a major price surge to a new all-time high.\n<\/p>\n

Golden Ratio In Sight: Bitcoin Targets $131K After Volume Shelf Hold<\/b><\/h2>\n

In an X post<\/a> on August 8, popular financial market analyst Donald Dean shares an interesting bullish price prediction on the Bitcoin market. Based on the existence of a volume shelf on the BTCUSDT daily chart, Dean tips the crypto market leader to soon attain a $131,000 market valuation.<\/p>\n

By way of explanation, a volume shelf refers to a price level where a significant amount of trading activity\/volume has occurred. In the chart above, this level of trading is indicated by the horizontal bars on the right side of the chart. A volume shelf tends to act as a strong resistance or support zone because many traders are assumed to have bought or sold at this level.<\/p>\n

\"Bitcoin\"<\/p>\n

According to Donald Dean\u2019s analysis, Bitcoin is currently hovering around a volume shelf between $116,000 – $118,000, which has been identified as a potential launch area. If Bitcoin can consolidate decisively above this range, it suggests that this level has enough buying interest to potentially act as a springboard for the next leg up.<\/p>\n

Interestingly, Dean predicts that this accumulation phase would provide the momentum needed to propel BTC toward the 1.618 Fibonacci extension level, a key technical milestone known as the \u201cgolden ratio.\u201d This level, positioned around $131,000, represents the next major price target for the Bitcoin market, signaling a potential 12.93% gain on the present market prices.\n<\/p>\n

Bitcoin Market Overview<\/b><\/h2>\n

At the time of writing, Bitcoin was trading at $116,756, after a minor decline of\u00a0 0.02% over the past 24 hours. Meanwhile, market trading volume has fallen by 20.97% and is valued at $55.24 billion.<\/p>\n

Data from CoinCodex<\/a> indicates that market sentiment remains strongly bullish, with the Fear & Greed Index at 67. Despite this optimism, analysts expect BTC to hold within its current range, projecting prices of $117,167 in five days and $115,980 in thirty days, and a potential dip to $112,688 over the next three months.<\/p>\n

\"Bitcoin\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Following the steep corrections seen in late July, the Bitcoin market made a modest recovery in the past week, rising by 2.73% according to data from CoinMarketCap. However, another rejection amidst this price resurgence forces the premier cryptocurrency to now trade within the $116,000 price region. While the crypto market awaits the token\u2019s next move,…<\/p>\n","protected":false},"author":1,"featured_media":6318,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[65,739,70,71,2168,3142,3143,3144],"class_list":["post-6317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-price-target","tag-btcusd","tag-btcusdt","tag-coincodex","tag-donald-dean","tag-golden-ratio","tag-volume-shelf"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=6317"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/6318"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=6317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=6317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=6317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}