Market Overview and Current Conditions
The BTC/USD pair has remained in a tight consolidation range this week as the market digests a mix of macroeconomic news and geopolitical developments. Notably, the recent trade truce between the United States and China has helped maintain a risk-on tone, while a slight dip in U.S. inflation added to investor optimism.
As of Thursday, Bitcoin traded around $103,300, just under this week’s swing high of $105,790, indicating continued buy-side pressure with a potential for further upside breakout. In their article, Tandexo presents an insightful breakdown of this subject.
Long-Term Structural Bullishness
From a long-term technical standpoint, Bitcoin has been locked in a broad uptrend, punctuated by periods of accumulation and breakout. One of the most notable formations is a cup-and-handle (C&H) pattern, which began near the $68,900 mark and developed over several years, culminating in late 2024. This pattern is considered a textbook bullish continuation setup and often precedes a strong directional move.
The depth of the pattern, approximately 76%, provides a measured move target when projected from the upper rim. Applying this measure suggests a bullish price target of $122,500—a key resistance projection that may act as a magnet for price in upcoming sessions.
Retracement and Recovery: April Price Action
In April, the pair experienced a healthy correction, finding support at $74,620. This retracement acted as a liquidity zone, prompting a strong bullish reversal. Since then, BTC/USD has appreciated by nearly 40%, lifting prices back above $103,000. This rebound reinforces market structure integrity and confirms the presence of higher lows, a vital hallmark of a continuing bullish trend.
Key levels to monitor on the upside include $108,335, the immediate resistance ceiling. Breaking above this area will be critical for unlocking the next leg higher.
Double-Bottom Formation and Neckline Break
A critical element of the current rally is the formation of a double-bottom reversal pattern, centered around the $76,690 level. This structure signals a shift in momentum from bearish to bullish and reflects increasing demand at lower levels. The break above the neckline at $88,695 confirmed the pattern’s activation, providing a strong technical buy signal and inviting momentum traders back into the market.
This breakout also coincided with a surge in bullish volume, which often accompanies confirmed reversal formations and supports the argument for trend continuation.
New Bullish Setup and Extended Target Projection
Following the neckline break, BTC/USD has carved out a new cup-and-handle-like pattern with a top boundary at $108,256. The depth of this formation, roughly 30%, projects an extended bullish target near $140,592. This price point serves as a longer-term upside goal, assuming the breakout is sustained and supported by sufficient market participation.
Such price objectives are based on classical chart theory, and while not guaranteed, they offer important reference points for position sizing, profit-taking, and risk-adjusted strategies.
Exponential Moving Averages Confirm Uptrend
Further reinforcing the bullish thesis are the 50-day and 100-day Exponential Moving Averages (EMAs). BTC/USD currently trades well above both, which is a sign of strong directional momentum. The EMAs are also positively sloped, with the shorter EMA above the longer EMA, forming a bullish crossover.
This EMA configuration is widely used by trend-following systems and quantitative models as a cue for entering or holding long positions. The EMAs also act as dynamic support zones, offering re-entry opportunities during minor pullbacks.
Key Support and Resistance Levels to Watch
From a risk management perspective, traders should closely watch the $100,000 support level, which acts as both a technical anchor and a psychological round number. A break below this level could invalidate the bullish setup, especially if followed by sustained selling pressure and a violation of $88,695, the previous neckline support.
On the flip side, a clear breakout above $108,335 would reinforce bullish momentum and confirm a higher high, setting the stage for a possible acceleration toward $122,500 and even $140,592.
Multi-Timeframe Alignment Strengthens Outlook
One of the most compelling aspects of the current setup is the alignment across multiple timeframes—from daily to weekly. The consistency of bullish patterns, combined with supportive technical indicators, builds a high-probability case for continued upside.
This multi-layered alignment typically results in increased conviction among institutional traders and algorithmic systems, further reinforcing the buy-side bias.
Conclusion: Bullish Momentum Intact, Eyes on Breakout Zones
In summary, the BTC/USD pair remains in a strong uptrend, supported by multi-timeframe technical analysis, well-defined chart patterns, and momentum indicators. The emergence of both double-bottom and cup-and-handle formations, combined with a rebound from significant support zones, strengthens the bullish case.
If price action breaks decisively above $108,256–$108,335, the door opens toward the $122,500 primary target, with an extended goal at $140,592. Until then, $100,000 remains the most crucial support to defend. As long as bulls control key levels, the path of least resistance continues to point upward.
