Bitcoin held above $105000 after forming higher highs that started at the $15000 accumulation point.
BTC weekly chart shows rising structure built from breakout zones near $33000 and $48000 levels.
Market interest has increased as Bitcoin forms its next leg toward the $124000 resistance area above.
Bitcoin is trading at $105,716 and is forming a strong bullish structure after completing a full cycle of accumulation and breakout. A recent chart shared on June 8, 2025, shows a clear higher high (HH) and higher low (HL) pattern. The weekly BTCUSD chart also suggests a strong possibility of retesting and surpassing previous all-time highs.
Source: X Reaccumulation Phases Shape Uptrend Foundation
The chart shows Bitcoin previously descending from its 2021 high, forming a five-wave downward cycle ending near $15,000. This structure marked the bottom of the bear market, where accumulation zones began to take shape. Multiple higher lows started forming after a clear breakout from the long-term trendline.
Following the initial breakout, Bitcoin developed a sequence of bullish continuation patterns identified as reaccumulation zones. These areas formed above $26,000 and later near $47,000, where price briefly consolidated before surging higher. The momentum from these zones pushed BTC above $68,000, a major psychological and technical level.
The chart also details several clear retests of trendlines and horizontal support during the uptrend. These retests acted as validation for bullish continuation, confirming buyer dominance. As a result, each leg of the rally created new higher highs, supporting the long-term bullish thesis.
Weekly Structure Supports $124,000 Projection
The current chart shows price action moving within a steep upward channel, with the upper resistance target projected around $124,000. The structure includes consistent higher highs and higher lows, indicating healthy uptrend momentum. If the current trajectory holds, Bitcoin may surpass its previous peak with strong confirmation.
The trend began forming after the breakout from $33,000, pushing to $48,000, then to $69,000, and finally breaking above $100,000. Each of these levels saw minimal rejection and steady follow-through, reflecting sustained investor interest. Price is currently resting above $105,000, showing minimal sign of reversal.
The diagonal trendline anchoring the channel remains intact, adding technical support to the rally. The volume during these upward moves was also notable, especially during the $68,000 to $88,000 surge, where institutional buying interest appeared visible. These conditions form a solid setup for further growth.
Sentiment and Engagement Rise Ahead of Breakout
CryptoYoddha’s chart reached nearly 200,000 views within 48 hours of being posted, showing strong interest from the trading community. The tweet described Bitcoin as “getting ready for a new ATH,” referencing an all-time high. User responses reflected rising confidence, with many referencing holding positions and targeting the breakout.
The price zone between $88,000 and $105,000 is labeled on the chart as the latest higher low before the breakout leg. If momentum continues, the next psychological target beyond $120,000 could become a strong magnet for traders. Momentum indicators also confirm current strength, with no bearish divergence present on the weekly chart.
