Bitcoin is projected to reach $130,000 in August, driven by a breakout from a bull flag pattern, according to analyst Peter Brandt. This prediction aligns with Brandt's earlier forecast of Bitcoin rising to between $125,000 and $150,000 by August or September, marking a continuation of a multi-year parabolic uptrend. The current target is calculated by adding the height of the flagpole to the breakout point. Despite the optimistic outlook, Brandt cautions that Bitcoin could face a significant correction of up to 50% after reaching the $125,000 to $150,000 range. However, some analysts remain bullish, suggesting the rally might persist beyond the $150,000 mark.