BTCUSD Today: Momentum Builds Toward the Next BreakoutPreviously on BTC...
1. Double Top Pattern and Target Hit
The chart shows a classic double top (early 2025), a bearish reversal pattern. Once the neckline broke, the price plunged and nailed the technical target (red arrow)—as if Bitcoin had read the textbook.
2. Trendline Break = Game Changer
After bottoming out, BTC broke through a downward sloping trendline, triggering a strong bullish move. This breakout signaled a trend reversal, and the market responded accordingly.
3. Perfect Pullback
Once the breakout played out, the price retraced back to previous resistance, now turned support. This “perfect pullback” is the kind of thing that makes technical analysts smile in their sleep.
4. Bull Trend Confirmation
The successful retest of support confirmed that Bitcoin had shifted from neutral/bearish into a full-on bull trend. Buyers stepped back in with confidence.
📊 BTC/USD – Current Outlook
Bull Flag Forming
Currently, price action is consolidating into a bull flag, a continuation pattern often seen mid-rally. If it breaks out to the upside, the projected target sits near $120,000.
🚀 Bullish Catalysts:
- Strong structural trend: Higher highs and higher lows are still intact.
- Post-halving momentum: Historically, Bitcoin tends to go beast mode 6–12 months after each halving—and we’re right in that sweet spot.
- ETF inflows: Institutional capital continues pouring into Bitcoin ETFs, adding steady buying pressure.
- Supply crunch: With more BTC leaving exchanges, sell-side liquidity is drying up. Hodlers are hodling.
- Technical setup: A confirmed breakout from the bull flag could trigger a powerful leg higher.
⚠️ Risks and Levels to Watch:
- A breakdown of the bull flag could send BTC back toward the $98k–91k range.
- Macro headwinds (rate hikes, economic slowdown, dollar strength) could still rain on crypto’s parade.
🧠 Conclusion
This chart paints a textbook bullish setup for Bitcoin. The double top is in the rearview mirror, the trendline breakout gave us the green light, and now the bull flag is loading the next move.
If the breakout happens, the next destination could be $120,000.
It’s one of those “don’t blink” moments—BTC might just be stretching before its next sprint.
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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.
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.