Bitcoin holds above $103K after breakout from $73K, with historical patterns suggesting continued stair-step price strength.
Rising channel breakdown puts $102K support under pressure, signaling possible weakness if $100K fails to hold.
On-chain data shows strong exchange outflows, hinting at reduced supply even as short-term price structure softens.
Bitcoin has entered a critical retest phase after breaching the $100,000 mark for the first time. As the asset consolidates above prior resistance, traders are watching for either confirmation of trend continuation or signs of rejection.
Structure Suggests Continuation, But Risks Remain
Following its May spike above $73,000, Bitcoin saw a strong upswing that propelled the price into six digits. Since 2023, a string of bullish continuation patterns has foreshadowed this move. Every region of resistance, first at $25,000, then at $45,000 and $60,000, was regained and reversed to support.
Source: Post on X
Price behavior shows a clear stair-step pattern, with each base forming a launchpad for the next breakout. Weekly candles continue to close above $103,000, holding momentum above the former resistance zone. Current consolidation appears to mirror earlier post-breakout setups from previous bull cycles.
At the outset, it’s worth clarifying that this structure points to a technically healthy trend. The most recent retest of the $73,000–$75,000 zone held firm, reinforcing strength. Green target zones between $120,000 and $150,000 now stand as potential resistance in Bitcoin’s next discovery range. Despite this bullish setup, short-term risks are surfacing.
Short-Term Breakdown Raises Caution Flags
The daily chart shows a rising channel breakdown, with Bitcoin falling from a local high of $109,358. A rejection near $108,000 formed a lower high, followed by a lower low at $102,211. This breached the channel’s lower boundary, signaling a shift in short-term structure.
Source: Post on X
Since May 28, the price has struggled to close above $104,000. Upper wicks and overhead Parabolic SAR dots highlight growing selling pressure. The $102,211 level has now been tested twice, raising questions about the strength of this support.
A drop below $100,000 could bring $95,563 into focus, a level tied to prior consolidation zones from April. Traders are watching to see if Bitcoin reclaims $106,000 or continues forming lower highs and lower lows. As price compresses under resistance, caution has increased.
What’s unfolding here suggests that broader forces remain in play. Prominent analysts on X note ongoing exchange outflows and reduced liquid supply. While short-term structure is weakening, strong on-chain signals still hint at underlying bullish intent.
The post Bitcoin’s Stair-Step Rally Nears $150K Target, But Short-Term Risks Linger appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
