Bitcoin reclaims triangle support after a fakeout dip, confirming breakout with volume spike and targeting the $110,000 level.
The golden cross near $70K led to a 64% rally, and a 10% pullback now signals a possible continuation move higher.
Michael Saylor’s Bitcoin tracker hints at renewed institutional buying, aligning with whale accumulation and bullish technicals.
Bitcoin’s technical breakout has reignited bullish momentum, with whales and institutions accelerating accumulation strategies. Traders and analysts now point to $110,000 as the next immediate target following a confirmed pattern breakout.
Fakeout Break Turns Into Fuel for Bullish Breakout
Bitcoin’s price action over the past two weeks has shaped a textbook symmetrical triangle on the 4-hour chart. The structure compressed between $102,000 and $105,000, building internal pressure before a sharp breakout.
Source: (X)
A sudden drop on June 6 triggered a breakdown below $102,000, shaking out panic sellers and tripping stop losses. However, this move was quickly reversed. A large bullish candle reclaimed the triangle, with volume spiking on the recovery. The price then surged above $104,800, confirming a breakout through the triangle’s upper boundary.
Technical analysts observed a strong liquidity trap that flipped momentum in favor of the bulls. Every bounce from $102,000 since late May reinforced it as a key demand zone. The pattern’s breakout aligns with historical bullish formations, where triangle compression gives way to explosive price expansion. The projected path now leads toward $110,000, provided Bitcoin sustains above $104,000.
The structure also mimics the bull flag behavior seen in earlier rallies. The recovery from the June 6 fakeout is part of a larger continuation pattern. Price remains on track as long as support levels hold and volume confirms strength.
Golden Cross Pattern Suggests Higher Cycle Target Ahead
The daily Bitcoin chart reveals the 50-day simple moving average crossed above the 200-day SMA in a golden cross near $70,000. Following this crossover, price climbed nearly 64%, peaking around $113,000 before a modest 10% pullback.
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Bitcoin then bounced off the 50-day SMA, just as it did in previous cycles. Analysts note that this moving average continues to serve as dynamic support during uptrends. The 200-day SMA remains far below, reinforcing the wide gap typical of a strong bullish cycle.
Historical behavior shows that after a 10% retracement following a golden cross, Bitcoin typically resumes its rally. Price compression between $101,000 and $105,000 now signals a potential springboard for the next leg upward. The setup mirrors previous cycles where breakouts followed tight consolidation above key averages.
Analysts’ Views Point to Institutional Momentum and Bullish Outlook
Bitcoin is trading back above critical resistance with technical confirmation from volume and moving average alignment. Whales have reportedly accelerated buying behavior, and institutions are positioning ahead of a possible $110,000 breakout. Michael Saylor’s Bitcoin tracker, posted today, signals that accumulation is ongoing and part of a broader institutional strategy. Analysts expect further upside, with bullish momentum continuing to build across timeframes.
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