According to CoinMeta, the Jurrien Timmer for Fidelity indicates that Bitcoin ( BTC ) has continued to remain above $80,000. This level will confirm a bottom and pave the way for a target of $100,000. On Sunday, the trading price of Bitcoin was $84,647, which is about 18% away from that target. Futures speculators are increasing their record-high bullish bets. Timmer points out that Bitcoin is challenging the key resistance level of $80,000, and if it breaks through, it will confirm a double-bottom pattern with a target of $100,000. His weekly chart shows that the lows in February and June of this year were $60,033 and $57,742, respectively. Timmer also mentions that Bitcoin's Power Law model suggests that holding at $60,000 would mark the beginning of a new bull market with a target of $300,000 for 2029.