Bitcoin is retesting the neckline of an inverse H&S breakout, a common technical move before resuming an upward price trend.
The invalidation level at $96K remains untouched, keeping the bullish reversal pattern active and signaling sustained structural strength.
Reclaiming $120K resistance may confirm continuation toward the $140K–$150K target, supported by previous cycle projections and Fibonacci levels.
Bitcoin is currently in the midst of a textbook retest of its neckline after completing a bullish inverse Head and Shoulders (H&S) breakout on the daily chart.
Classic Re-Test Following Inverse H&S Breakout
Colin Talks Crypto shared an update on the ongoing Bitcoin inverse Head and Shoulders setup, highlighting the current price activity as a standard retest. According to his analysis, BTC is retesting the neckline between $109.3K and $112K—a move that often follows an H&S breakout before continuation.
https://twitter.com/ColinTCrypto/status/1951380018371731771
This inverse H&S pattern began with a left shoulder formed in January 2025, followed by the head near $93K in March. A right shoulder developed in June, creating a symmetrical formation. The neckline was breached in early July, generating a bullish breakout. As the price returns to this neckline zone, market participants see it as a potential support confirmation, not a weakness in the structure.
Technical Structure Remains Intact
Despite the ongoing pullback, the structure remains intact. The red line near $96,000 is noted as the invalidation point for the H&S formation. As long as Bitcoin trades above this level, the bullish structure remains valid.
Momentum remains tilted to the upside unless this critical level is broken with high volume and strong follow-through. Current consolidation above the neckline suggests that buyers are still in control. The measured move from the pattern’s height projects a target of $150,000, aligning with long-term Fibonacci extensions and historical cycle top zones.
What Comes Next for Bitcoin Price
Colin emphasized the importance of price behavior in the $109.3K–$112K range. A strong rebound from this level, accompanied by rising volume, would signal buyer strength. On the other hand, a failure to hold this range could push the price toward support levels between $103K and $105K.
To reassert bullish momentum, Bitcoin must reclaim $120K and move beyond recent highs near $123K. A successful push above those levels could open the path toward the $140K–$150K target. Until then, market participants continue to monitor the neckline region as the key zone for near-term direction.
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