📈 The Technical Situation of Bitcoin

Chart Pattern: The active Cup and Handle pattern supports an additional rise of about 14% to around 134,500 $ according to analyst Katie Stockton from Fairlead Strategies.

Bull flag pattern signals on the daily chart support the continuation of the upward trend with a potential target above 140,000 $ .

A Head and Shoulders pattern observed by Axiory on the weekly timeframe, but it is not yet complete; it requires a break of the neck line and breakout line to activate the possibility of a bearish reversal.

The MACD indicator reinforces the bullish scenario, especially after breaking the previous resistance level at ~108,300 $ which turned into technical support.

🔍 Critical Support and Resistance Levels

Current Resistances:

Initial level at 122,300–123,000 $ (new record highs).

Short-term target between 130,000 $ and 140–146,000 $ according to chart patterns.

Important Support Levels:

First support at ~108,300 $ (previously resistance, turned into technical support with a rising MACD).

Secondary support at ~107,000 $ (50-day moving average).

Wider support lies between 100,000–104,000 $ which was a reference line during June–July.