Bitcoin formed a rounded bottom near $104000 and now aims for resistance levels at $114000 and $120000.
The price broke from a triangle structure and began a new pattern with higher targets projected this month.
Buyers continued to defend the recent lows as BTC started showing signs of new strength in the upper range.
Bitcoin’s price structure signals a new bullish breakout, with analysts projecting a move toward $114,000 and possibly $120,000 in the short term. The chart shared on June 16 shows a rounded bottom forming on the 12-hour timeframe, indicating strong reversal momentum. The pattern is drawing comparisons to earlier continuation setups that preceded price surges above $100,000.
Source: X Rounded Bottom Signals Trend Reversal
A visual review of the chart highlights a double-bottom formation near the $104,000 zone, which provided support after repeated retests. Bitcoin has now bounced from that zone and is steadily gaining upward momentum, staying above key short-term demand zones.
This rounded structure, drawn with soft green zones under recent lows, shows symmetry that matches previous breakout conditions. The current trajectory, if maintained, positions Bitcoin for a test of the next resistance near $114,000.
Traders have noted that similar patterns in April and May triggered rallies of more than $10,000 within weeks. The current scenario reflects strong buying interest following dips and confirms demand-driven rebounds near previously tested support.
Price Breakouts Driven by Structure
Earlier in June, Bitcoin broke from a triangle-shaped consolidation between $96,000 and $102,000. That breakout led to a sharp climb toward $108,000 before a mild retracement. The current move is now forming the next leg, according to the upward projection marked on the latest chart.
The expected path, drawn with dotted arrows, outlines a price climb into late June and early July. If momentum continues, $114,000 becomes the first major resistance zone, followed by a potential test of $120,000.
The prior consolidation breakout was fueled by volume shifts and a clear directional bias. With each leg of the move backed by structure, analysts believe that the next round of gains could follow similar logic.
Crypto-ROD, who shared the chart, mentioned the condition “If this hold” in reference to the double-bottom support zone. That implies continuation depends on Bitcoin staying above the rounded base without breaking below $104,000 again.
Higher Targets Raise Market Expectations
Traders are closely watching the reaction around the $108,000 to $110,000 level, which could unlock higher moves if cleared. Market behavior around this zone will confirm whether buying momentum is enough to carry price to $114,000.
The projection further extends to $120,000, which would represent a new price milestone for 2025. Previous forecasts aiming at that level came during earlier stages of the year, but lacked this strong setup.
The community response has been intense, with discussions surrounding the likelihood of altcoins following Bitcoin’s path. If Bitcoin holds above the key neckline and advances toward the target levels, traders anticipate broader market participation.
The question now stands: Can Bitcoin maintain this structured advance and reach $120,000 before July?
