
Bitcoin (BTC) has entered a strong bullish phase, breaking past $105,000 after forming a classic cup and handle pattern on the charts. This technical formation suggests that BTC could be gearing up for another major leg upward, with analysts setting new price targets beyond current resistance levels.
Bitcoin’s Bullish Cup and Handle Formation
The cup and handle is a well-known bullish continuation pattern that often precedes significant price increases. In Bitcoin’s case:
- The “Cup” Formation: BTC experienced a rounded bottom recovery, bouncing back from previous resistance levels.
- The “Handle” Formation: A slight pullback occurred, allowing BTC to consolidate before the breakout.
- Breakout Confirmation: BTC surged past the $105K resistance, signaling potential for further gains.
What’s Next for Bitcoin? Key Levels to Watch
🔥 Immediate Resistance: $110,000
- Bitcoin needs to clear $110K convincingly for the next rally phase.
- If buying pressure increases, BTC could break this level and set new highs.
✅ Strong Support: $102,000 – $105,000
- This zone now acts as a strong demand area, preventing deeper corrections.
- As long as BTC stays above $105K, bullish momentum remains intact.
🚀 Next Bullish Target: $120,000+?
- If BTC breaks $110K, analysts expect a run toward $115K – $120K.
- Momentum from institutional investors and ETFs could accelerate gains.
On-Chain Metrics and Market Sentiment
📊 Increased Institutional Interest – Spot Bitcoin ETFs continue to see strong inflows, pushing demand higher.
💰 Exchange Supply Decline – More BTC is leaving exchanges, reducing selling pressure.
📈 RSI & MACD Indicate Strength – BTC remains in bullish territory with no immediate signs of overextension.
Final Thoughts: BTC’s Path to New Highs
Bitcoin’s cup and handle breakout is a powerful signal that the bull market is far from over. With strong support above $105K and bullish indicators aligning, BTC could be on track to test $110K and beyond in the coming days.