The analysis states that Bitcoin has broken above $113,500, forming a higher high, which suggests the cryptocurrency is officially in an uptrend. The expectation is for further upward movement. As long as the current daily green candle closes above a specific red line, the analyst believes Bitcoin is set for more gains. The next resistance level is approximately 2.51% higher than the current price. A move in Bitcoin typically causes altcoins to increase two to three times that move. The analyst suggests if whales continue buying into the market, the price of Bitcoin should continue to rise. The next target is set at $117,000.