Bitcoin holds strong above $105K, testing resistance near $109.6K, signaling potential breakout toward $120K and $135K targets soon.
After a full market cycle from $30K to $15.5K lows, Bitcoin’s steady recovery shows bullish momentum supported by ascending trendline since 2023.
Bitcoin’s current consolidation between $95K and $110K signals a pause before a likely bullish breakout targeting $150K and new highs ahead.
According to Crypto Patel, Bitcoin continues to display a strong bullish structure on the weekly timeframe, currently trading at $108,732.54 on Binance. The flagship crypto dipped slightly by 0.25%, or $271.65, yet remains firmly above the critical $105K bullish order block. This level has acted as a springboard, helping Bitcoin maintain upward momentum amid market volatility.
At present, Bitcoin is evaluating a bearish order block with a range of $99.5K to $109.5K. Fresh all-time highs would be possible if the weekly closing was above $109.6K, which would confirm a breakout. A fair value gap (FVG) between $84K and $91K is also shown in the data, and if a retreat takes place, this might provide substantial demand. Consequently, as long as Bitcoin is over $105K, the trend remains positive.
A Complete Market Cycle from 2021 to 2025
Bitcoin has gone through a whole market cycle since July 2021, beginning at about $30,000. In November 2021, the asset surged to a record high of $69,000. But by November 2022, the subsequent steep downturn had driven prices down to $15,500. Over over a year, this was a 77% decrease.
Source: Crypto Patel
The recovery began in January 2023. Bitcoin formed a series of higher lows, signaling a confirmed trend reversal. An ascending trendline from the 2022 bottom supports the recovery. This structural support continues to hold firm, even during corrective moves. Consequently, the bullish foundation appears intact.
Consolidation Before the Next Leg Up
Bitcoin reached the $73,000 level in early 2024. Initially, it faced rejection. However, that level now acts as strong support. Moreover, Bitcoin has recently entered a consolidation zone between $95K and $110K. This range represents a pause in momentum, not a trend reversal.
Besides, the trading volume of 8.47K BTC shows healthy participation during this phase. The upper boundary of the long-term ascending channel targets $150,000. Hence, a breakout above the current resistance could trigger the next explosive leg.
Additionally, the structure favors bullish continuation. A sustained push above $109.6K may unlock higher targets at $120K and $135K in the coming weeks. Bitcoin’s outlook remains optimistic, supported by technical strength and strong market demand.
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