Bitcoin Price Forms Higher Lows Near Resistance, Here’s Why Analysts Expect a Major Breakout Soon

Bitcoin forms higher lows near $114K, signaling buildup toward a potential $122K breakout.

Daily volume jumps 18% as BTC trades sideways, holding strong above $110K support zone.

Analysts watch $122K for breakout, with targets up to $140K amid rising wallet accumulation.

Bitcoin’s current chart structure shows strong signs of a potential upward breakout, resembling previous price behavior. Based on its past setup and current technical position, analysts suggest Bitcoin may be preparing for another major bullish move in the coming weeks.

Technical Setup Suggests Imminent Breakout Pattern

Bitcoin has been trading in a tight range between $112,000 and $120,000 after reaching a monthly high near $122,000. The asset is currently priced at $114,714.47, with a gain of 6.37% over the past 30 days. The market structure remains intact, as higher lows continue forming above key levels.

According to analysis prepared by Javon Marks, Bitcoin has broken out from a descending trendline and is now forming higher lows near resistance. Marks noted that “prices look to be getting ready for another major bullish move.” The chart shows repeated breakout patterns following consolidation, with similar price behavior seen in earlier rallies.

Source: CryptoRover(X)

Crypto Rover, a well-known analyst, stated that a confirmed breakout above $122,000 could push Bitcoin to $140,000. This projection comes as Bitcoin holds strong above the $110,000 support zone. Historical resistance levels have previously acted as triggers for sharp price increases, including the $100,000 breakout in 2024.

Volume Rises While Market Remains in Tight Range

Bitcoin's trading volume reached $84.33 billion, marking an 18.45% increase in daily activity. Meanwhile, market capitalization stands at $2.28 trillion, with a 3.17% pullback in the last 24 hours. Despite the decline, volume-to-market cap ratio remains healthy at 3.69%, indicating active trading interest.

Source: Zyn(X)

According to an observation by Zyn, Bitcoin has moved sideways for three weeks. He compared the pattern to Ethereum’s five-week consolidation earlier this year, followed by a sharp move. Zyn added, “Maybe a capitulation wick to $110K–$112K before it teleports to a new ATH.”

Current on-chain data shows increased accumulation by large holders, with over 100 million active Bitcoin wallets reported. Analysts are closely watching for a daily close above $122,000, which may confirm the next bullish phase.

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