BTC is holding above rising trendlines and now targets the 2.618 extension at $165261 if price breaks out.
Each past breakout moved with precision and current resistance near $110000 mirrors earlier measured patterns.
Fibonacci levels suggest the breakout could trigger a sharp rally if Bitcoin closes strong above this resistance.
Bitcoin (BTC) is currently trading around $103,156 while targeting a major technical breakout that could extend toward $165,261. This move represents the 2.618 Fibonacci extension of the January–April measured rally if the next upward breakout occurs. Market analysts are now watching the key resistance zone just below $110,000 as the next trigger level.
Source: X
The latest analysis shared by Jake WuMarketResearch shows Bitcoin forming a pattern of measured breakouts followed by consolidation. Each breakout has led to a new all-time high, supported by ascending trendlines that have held since late 2022. The current setup indicates the potential for continuation if historical structure repeats.
Fibonacci Extension Suggests $165,261 Target
According to the chart, Bitcoin has followed a consistent trend of breaking previous resistance after accumulation. Each breakout move mirrors the previous one, with calculated targets based on Fibonacci extension. The 2.618 extension is now positioned at $165,261, aligning with the projected next leg up.
The horizontal red resistance zone has capped price action around $105,000 to $110,000. This area must be cleared for the Fibonacci projection to activate. The measured move from the January–April period was used to estimate the next breakout range.
Green ascending trendlines on the weekly chart show long-term support that has consistently pushed BTC higher since November 2022. These trendlines remain intact, further validating the structure. A successful close above the current resistance could initiate the strongest leg of the ongoing bull cycle.
Historical Pattern Repeats With Precision
Bitcoin’s multi-month trend shows a repeating breakout-consolidation structure that began in mid-2023. Each phase starts with accumulation just above trendline support followed by a sharp move past horizontal resistance. This pattern has occurred three times over the past two years.
The first breakout in 2023 lifted BTC from around $25,000 to over $47,000. The second breakout, formed in late 2023, extended the rally toward $73,000. Now, price is testing the next horizontal barrier with a similar setup in place.
Arrows drawn in the chart indicate vertical measured moves from the base of consolidation to the top of each breakout. These moves have provided accurate targets, with Bitcoin responding consistently at each technical level. This disciplined pattern continues to attract traders seeking repeatable signals.
Will Bitcoin Activate Its 2.618 Measured Move?
BTC now trades just under the resistance band that could unlock the path toward $165,261. For this to happen, a clean breakout is needed followed by volume confirmation. Traders are closely watching for weekly candle closes above $110,000 to validate the next phase.
This structure mirrors prior expansions, with Fibonacci metrics pointing to a sharp upward move once the breakout occurs. If confirmed, the target becomes realistic based on the trend’s strength and historical behavior. Will Bitcoin complete its third major breakout and reach the long-watched $165,261 extension in the coming weeks?
