We’re pivoting back to Bitcoin (BTCUSD) this week after its recent breakout to fresh all-time highs. It’s a strong reminder that the broader trend remains bullish, and the bulls are still very much in control.
🔍 On the daily chart, we’re watching a new wedge formation develop. BTC is currently consolidating just beneath a major resistance zone. A break and daily close above the $124K–$125K range would likely confirm the next leg of this bull cycle.
📈 If the breakout holds, the measured move from the wedge projects a rally into the $138K–$140K zone. That’s our near-term upside target, contingent on momentum and confirmation.
📉 On the downside, support holds firm between $112K–$114K. As long as price remains above this level, the path of least resistance is still higher.
🔍 On the daily chart, we’re watching a new wedge formation develop. BTC is currently consolidating just beneath a major resistance zone. A break and daily close above the $124K–$125K range would likely confirm the next leg of this bull cycle.
📈 If the breakout holds, the measured move from the wedge projects a rally into the $138K–$140K zone. That’s our near-term upside target, contingent on momentum and confirmation.
📉 On the downside, support holds firm between $112K–$114K. As long as price remains above this level, the path of least resistance is still higher.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.