Bitcoin Preparing for Explosive Breakout Toward $167K

4 sie

Bitcoin is currently respecting a clean trendline resistance following a bullish pennant formation. Price is holding firmly above the neckline breakout from the inverse head and shoulders (ISHS), confirming demand strength around the $111K–$113K region. The structure implies another 48% rally projection, mirroring the previous measured move, which points toward a potential target at $167K.

A breakout above the immediate diagonal resistance would likely trigger an impulsive continuation, replicating earlier moves from similar setups as annotated. Bias remains bullish while price holds above the neckline pivot.

Technical Confluence
Pattern Structure: Bullish Pennant + Retest of ISHS neckline
Market Geometry: Symmetrical move projection based on previous breakout leg
Momentum Flow: Higher lows forming against compressing resistance
Volume Expectation: Volatility expansion likely on breakout confirmation
Key Trendline: "Big move started when price break this TL"

Key Price Levels

• Support Zone: $111,800 – $113,000
• Confirmation Zone: Above $123,000
• Primary Target: 🎯 $167,000
• Invalidation Level: ❌ Below $105,000

Execution Plan

• Entry: Watch for bullish pennant breakout and retest of diagonal TL
• Trigger Method: Limit buy post-breakout or confirmation on volume surge
• SL: Just below $105K zone

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5 sie

Zlecenie aktywne

Bitcoin continues to struggle above the neckline. If price holds, the bulls still maintain the upper hand, and the setup is expected to progress as anticipated.

14 wrz

Uwaga

Still very much in play, patience is all that is needed for the setup to develops towards provided target.