Bitcoin is nearing the apex of a symmetrical triangle, with falling volume hinting at a breakout-driven move ahead.
A weekly breakout from a broadening wedge above $100K adds bullish weight, targeting $132K if support at $106.5K holds.
Momentum remains neutral, but strong buy-side defense near $105K keeps bulls focused on confirmation above resistance.
Bitcoin is coiling within two major chart formations that analysts say may define its next big move. As the asset holds above $105K, momentum indicators and support-resistance structures suggest a directional breakout is on the horizon.
Bitcoin’s structure on the 4-hour chart reveals a classic symmetrical triangle, with price tightening between rising support and falling resistance. Traders are eyeing this compression closely, anticipating a strong move once the price exits the range. The pattern reflects a balance of power—neither buyers nor sellers are dominating, yet.
Source: X
According to one analysis tracking the formation, resistance begins at $112,000 and stretches downward across lower highs, while support rises from $102,000. With the price hovering around $105,354, the apex is approaching, placing a potential breakout within striking distance. Notably, volume has declined as the triangle matures, consistent with historical triangle behavior. This drop in volume often signals reduced market participation ahead of a volatility spike.
The MACD is flattening at the zero line, and its histogram bars are shortening—both of which reflect a neutral momentum phase. The analyst also remarked that the recent sideways move flushed out overleveraged positions, possibly resetting the market for stronger directional activity. While some speculate a bullish resolution, others suggest that any breakout must be backed by volume expansion and clean follow-through.
Larger Pattern Adds Bullish Confirmation
On the weekly timeframe, a separate structure offers confirmation of longer-term bullish intent. Bitcoin has broken out of a right-angled descending broadening wedge—a pattern often associated with trend continuation. The breakout took place just above $100,000, a key horizontal resistance level that’s now acting as support.
Source: X
Following the move, price retested the breakout zone and printed a long lower wick, suggesting strong buy-side defense. Based on the pattern’s height, the projected upside target lands near $132,000. This target aligns with broader bullish forecasts and reflects technical symmetry. More importantly, the breakout-retest sequence fits classic wedge behavior, adding confidence to the structure’s reliability.
That said, momentum must sustain above $106,500 in the short term to maintain structure. Some traders see this area as a trigger zone for altcoin rallies if it holds with strength. Others remain hesitant, watching for confirmation candles before increasing risk exposure. As always, upside projections remain contingent on the market honoring key support zones.
Market Observers Watch for Confirmation
Despite the strong technical backdrop, market observers remain cautious. Several points to choppy action near the $106K region as a sign of short-term indecision. Some are staying long but remain quick to cut positions if weakness sets in.
Still, the presence of both the symmetrical triangle and the broadening wedge offers rare structural alignment across timeframes. With volume compressed and momentum indicators resetting, conditions appear primed for a breakout-driven phase. What follows may ultimately depend on whether Bitcoin can hold critical support and attract confirmation from broader market flows.
