Bitcoin (BTC) has been holding steady above the $100,000 level, signaling growing strength in the market as investors anticipate the next big move. After a calculated and steady rally, BTC’s current behavior suggests it may be entering an accumulation phase ahead of another major breakout. But with technical indicators flashing mixed signals, the crypto world is asking: is Bitcoin gearing up for $115,000—or preparing for a correction?

According to market analyst Timothy Peterson, Bitcoin could hit $115,000 within the next 60 days if current patterns hold. His prediction is based on BTC’s ability to maintain a structure of higher highs and higher lows, even in the face of macroeconomic uncertainty and market volatility.

Peterson and other experts believe the recent price action reflects a strong, maturing bullish cycle. After a breakout rally that pushed BTC past $103,000, the momentum has slowed—but not reversed. The price is currently consolidating in a tight range, which often signals the calm before another explosive move.

“Consolidation at these levels is a bullish signal,” says Peterson. “It’s the market preparing for another leg upward.”

But not everyone is convinced the next move will be upward.

Correction Phase or Just a Pause?

While investor sentiment remains optimistic, key technical indicators suggest caution may be warranted. The Relative Strength Index (RSI) on the weekly chart has reached overbought levels—its highest since the November 2024 breakout. Historically, this has often preceded either a cooling-off period or a minor correction before another push higher.

A closer analysis of the RSI trend shows that it has entered a descending channel, which has, in the past, aligned with price slowdowns. Yet, this does not necessarily imply a sharp decline is imminent. Bitcoin has previously maintained bullish price action even while the RSI retraced within a downward trend—most recently from December 2024 through February 2025.

Still, there’s no denying that the weekly RSI sitting in overbought territory is something to watch closely. If the index drops further without a price correction, it could suggest hidden weakness in the current rally.

OBV Signals Mixed Momentum

Another key metric to watch is the On-Balance Volume (OBV), which measures buying and selling pressure. While BTC recently approached a critical resistance level on the OBV chart, it has yet to break through decisively. Previous failed attempts at these levels were followed by periods of horizontal consolidation or minor corrections.

If the OBV breaks above resistance, it would confirm strong buying support and likely signal another surge toward all-time highs. But failure to breach this level could result in a prolonged period of sideways movement.

ATH Within Reach—But With Limits

Analysts agree that a new all-time high (ATH) is still very much on the table for 2025. However, expectations are becoming more measured. Rather than forecasting extreme spikes to $150,000 or higher, experts are pegging the next peak somewhere between $112,000 and $115,000—a realistic target given the current pace and macro environment.

Bitcoin’s recent consolidation around $103,000 is seen as a base-building phase. The longer BTC holds above the six-figure mark, the more confidence it inspires among investors and institutions alike. This psychological level has now become a key support zone and potential springboard for the next leg up.

What to Expect in the Weeks Ahead

With May well underway and the summer months approaching, all eyes are on whether Bitcoin can sustain its upward momentum. While the market awaits a possible breakout toward $115,000, the path won’t be without hurdles. Both retail and institutional investors will be watching the RSI and OBV closely, along with macroeconomic trends and U.S. regulatory updates.

For now, Bitcoin remains in a strong position—consolidating rather than correcting. And if the bullish patterns continue, analysts like Timothy Peterson believe the $115K mark could be hit within the next two months.