how close are we to bitcoin hitting new ath this week? $142k possible?

saw merlijn's bitcoin bull run cheat sheet and some analysis suggesting btc might actually break to new highs within days. wanted to break down what i'm seeing here.

current situation: btc sitting around $118,500 after bouncing from $112k support. the chart shows we're potentially in the final accumulation phase before the next major move up.

technical setup looks interesting:

formed a bullish flag pattern since june 22nd when we bottomed at $98k and peaked at the $123k ath

flag has a height of about $25k, which typically projects to around $142k if we break above $117k resistance

already showing signs of breaking above the upper flag boundary

holding above 100-day ema and completed a break-and-retest at the $112k level

what's driving this potential move:

etf inflows jumped $246m last week after bleeding $643m the week before

exchange supply at multi-year lows while demand keeps increasing

fed rate cut probability rising after weak jobs data

cpi data coming tuesday could be the catalyst if it comes in weak

the cycle timing also matches historical patterns. looking at merlijn's chart, we've had bear phases lasting 1300-1500 days followed by accumulation periods of around 1400 days. if the pattern holds, we should be transitioning into the actual bull run phase right about now.

rsi crossed above 50, macd turning bullish, momentum building. feels like we're setting up for either a major breakout or a significant rejection at these levels.

what's your take? are we actually ready for $142k or is this just another false breakout before more consolidation? the technical setup seems solid but crypto has a way of doing the opposite of what everyone expects.