Overview Summary
Bitcoin (
BTCUSD ) is retesting a major zone after its breakout above the previous ATH resistance zone of $105K–$107K, a level that previously marked the top of the 2024 cycle before it pulled back to $76K. This chart now shows BTC pulled back from $111K highs, potentially validating a classic "break and retest" pattern and continuation of the overall trend.
Price action is unfolding within a clean ascending uptrend channel structure that has defined the bull trend since late March. With BTC currently testing the upper boundary of this previous major resistance zone ($105K–$107K), this area now acts as the "make-or-break level" for the long awaited bull run.
If buyers continue to hold this level, the market may resume its upward momentum with heavy strength, opening the door to the next leg towards our medium term target of $120K+ as projected by the channel extension. However, a decisive close below $105K would invalidate this near-term structure and suggest deeper consolidation or a sentiment reset.
Key Technical Structure
Major Resistance & Support: $105K–$107K
Trend Channel: Active
Short Term Resistance: $112K
Key Target Zone: $118K–$122K
Invalidation Zone: < $105K
Why This Setup Matters
This is a textbook breakout retest structure, when previous cycle highs are reclaimed and flipped into support, it often sets the stage for rapid continuation. The fact that BTC is pausing here rather than collapsing suggests the market is preparing for this decision.
Break & Retest at this current price zone would:
Future Outlook & Trade Setup
If BTC respects the $105K–$107K zone, we anticipate a strong push toward the next major resistance zone between near $120K. Watch for volume and wick rejection to confirm demand.
Trade Plan (If Support Holds)
Entry: < $107K
Short-Term Target: $112K
Long-Term Target: $120K+
Invalidation: Break below $105K
Final Take
Bitcoin is at a pivotal zone where market memory and technical structure converge. If this retest holds, it validates a breakout continuation structure with room to run toward $120K+.
If this zone fails, we expect a deeper retest into $100K–$102K or lower.
Bitcoin (
BTCUSD ) is retesting a major zone after its breakout above the previous ATH resistance zone of $105K–$107K, a level that previously marked the top of the 2024 cycle before it pulled back to $76K. This chart now shows BTC pulled back from $111K highs, potentially validating a classic "break and retest" pattern and continuation of the overall trend.Price action is unfolding within a clean ascending uptrend channel structure that has defined the bull trend since late March. With BTC currently testing the upper boundary of this previous major resistance zone ($105K–$107K), this area now acts as the "make-or-break level" for the long awaited bull run.
If buyers continue to hold this level, the market may resume its upward momentum with heavy strength, opening the door to the next leg towards our medium term target of $120K+ as projected by the channel extension. However, a decisive close below $105K would invalidate this near-term structure and suggest deeper consolidation or a sentiment reset.
Key Technical Structure
Major Resistance & Support: $105K–$107K
Trend Channel: Active
Short Term Resistance: $112K
Key Target Zone: $118K–$122K
Invalidation Zone: < $105K
Why This Setup Matters
This is a textbook breakout retest structure, when previous cycle highs are reclaimed and flipped into support, it often sets the stage for rapid continuation. The fact that BTC is pausing here rather than collapsing suggests the market is preparing for this decision.
Break & Retest at this current price zone would:
- Reinforce bullish market structure
- Invite trend-following buyers and institutions waiting for confirmation
- Set up asymmetric long entries targeting $120K
- Signal broader strength across the crypto market, likely dragging other cryptos upward
Future Outlook & Trade Setup
If BTC respects the $105K–$107K zone, we anticipate a strong push toward the next major resistance zone between near $120K. Watch for volume and wick rejection to confirm demand.
Trade Plan (If Support Holds)
Entry: < $107K
Short-Term Target: $112K
Long-Term Target: $120K+
Invalidation: Break below $105K
Final Take
Bitcoin is at a pivotal zone where market memory and technical structure converge. If this retest holds, it validates a breakout continuation structure with room to run toward $120K+.
If this zone fails, we expect a deeper retest into $100K–$102K or lower.
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.
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.