Bitcoin’s Volume Shelf Hints at Explosive Rally to $131K – Here’s Why Analysts Are Bullish
Bitcoin’s trading volume is flashing a rare signal—one that historically precedes massive price surges. Analysts now eye a jaw-dropping $131,000 target, and the charts back it up.
The setup? A 'volume shelf,' where accumulation meets explosive breakout potential. Traders stacking sats during the lull might soon laugh their way to the bank—while traditional finance scrambles to justify its 2% bond yields.
Timing’s everything. With institutional FOMO creeping in and liquidity tightening, BTC’s next leg up could rewrite the playbook. Just don’t tell the Fed.
Golden Ratio In Sight: Bitcoin Targets $131K After Volume Shelf Hold
In an X post 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.
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.
According to Donald Dean’s 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.
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 “golden ratio.” 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.
Bitcoin Market Overview
At the time of writing, Bitcoin was trading at $116,756, after a minor decline of 0.02% over the past 24 hours. Meanwhile, market trading volume has fallen by 20.97% and is valued at $55.24 billion.
Data from CoinCodex 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.
