Bitcoin has broken out of a clear weekly bull flag pattern that also formed during the 2024 rally
Price now holds above $93000 and is showing signs of continued strength on the weekly timeframe
Analysts are closely watching $105000 as the next breakout target if weekly candles keep closing higher
Bitcoin has broken out of a bull flag formation on the weekly chart, with the current price at $96,353 and rising steadily. The chart, published on May 3, 2025, shows a breakout similar to a previous rally in late 2024. Traders are now focused on how long the price can hold above $93,000 to confirm bullish momentum.
Bitcoin Price Chart (Source: X) Bull Flag Structure Hints at Strong Continuation
The chart from WuMarketResearch displayed a classic bull flag pattern forming between March and April 2025. Bitcoin consolidated downward inside a parallel channel before breaking out to the upside in early May. This formation mirrors a similar setup that occurred between June and September 2024.
In 2024, Bitcoin traded sideways before breaking out of a flag and climbing sharply in the following weeks. The price rose from around $45,000 to nearly $70,000 after that previous breakout. A near-identical channel and breakout have now formed again, this time near the $93,000 to $97,000 zone.
Analysts have noted that weekly candle closes above the channel signal strength. Jake W., who shared the chart, confirmed the breakout had occurred, pointing to the latest candle pushing above resistance. The market has responded with renewed buying pressure and growing investor optimism.
Community Response Divides as Market Builds Momentum
Investor sentiment around the chart remains mixed, with some calling the breakout a strong signal for continued upside. A comment from Prestige Options labeled the move “the real deal,” adding that a green weekly candle above resistance was a clear sign. Traders are closely watching whether BTC can maintain this momentum through the next few sessions.
The price range from $92,900 to $97,885 now acts as the key demand zone. Volume has started to increase, supporting the breakout case. Analysts have compared this move to previous rally patterns where similar formations led to sustained bullish trends.
However, not everyone shares the same view. Another trader noted concerns over the strength of this setup and suggested it could end as a failed pattern. Despite the breakout, some remain cautious due to lack of backtesting or extended consolidation below resistance.
Will This Breakout Send Bitcoin to New All-Time Highs?
The chart leaves one major question: can Bitcoin build enough momentum from this breakout to set a new record above $100,000? The current pattern, now validated by a breakout, historically leads to high-percentage moves. The setup also aligns with previous bullish cycles dating back to 2021 and 2023.
At $96,353, Bitcoin is within close range of its previous peak. Market participants are speculating whether this technical breakout can push the price beyond $105,000 in coming weeks. Should the price sustain above $93,000 and continue to close weekly candles higher, analysts see the potential for a rapid surge.
With two similar breakout patterns now visible on the weekly chart, traders are treating this as a key moment. Much of the sentiment depends on whether the next few candles confirm this move. All eyes are now on Bitcoin's ability to hold this level and build a new uptrend.
