Bitcoin has broken above the $108K–$110K resistance, signaling a shift in structure toward the channel’s $150K–$170K upper boundary.
The breakout candle shows strength, supported by volume and momentum, suggesting bulls are firmly in control of Bitcoin’s current price movement.
Weekly RSI approaches a long-term trendline, and a breakout could confirm strong market momentum and dismiss earlier bearish divergence concerns.
Bitcoin has officially broken above resistance within its ascending channel, with price action and momentum now aligning for further upside.
$BTC Breaks Out Within Ascending Channel
Bitcoin ($BTC) has broken through the resistance zone inside its long-standing ascending channel, according to a tweet by Titan of Crypto . The tweet notes, “#BTC just broke above resistance within the ascending channel. Can it sustain this move and reach the upper boundary?” This move comes after several weeks of tight consolidation just below the $110,000 level.
https://twitter.com/Washigorira/status/1944372100082364830
The breakout candle is strong and backed by increased momentum, suggesting buyers have taken control. For the bullish scenario to remain valid, Bitcoin must now hold above the $108K–$110K breakout zone and convert it into support. If that support holds, the next logical target lies near the channel’s upper boundary, which aligns with the $150K–$170K range.
As of the time of publication, Bitcoin is trading at $118,866, up 1.29% in the last 24 hours, and up 9.21% in the last seven days. The trading volume remains robust, at more than $22 billion, which helps to create a case for continuation to the upside.
RSI Approaches Critical Downtrend Resistance
Alongside the price breakout, the weekly RSI is now approaching a long-standing downtrend resistance. The same tweet adds that “the weekly RSI is inching closer to its trendline. A breakout there would seal the deal.” This RSI level has acted as a ceiling since early 2024, and breaking it would mark a technical shift in momentum strength.
A decisive RSI breakout could invalidate the bearish divergence that has limited prior rallies. Market sentiment would likely gain new energy, potentially attracting renewed interest from institutional investors and momentum traders seeking confirmation of trend strength.
Structure and Momentum Align for Continuation
The structure of the breakout—combined with RSI behavior—currently supports the case for further upward movement. The breakout candle has engulfed several prior weekly closes, suggesting growing strength in price direction.
However, for the breakout to be sustainable, Bitcoin must defend the $108K–$110K zone. Any drop below it may signal a false breakout and trap late buyers. But with momentum building and the RSI nearing its own breakout point, the setup continues to favor a climb toward Bitcoin’s long-term price targets.
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