- Bitcoin jumped to $111,056.89 after clearing $109,500, ending hours of tight consolidation with a breakout candle.
- A $1,520 hourly surge flipped Bitcoin’s trend bullish as volume spiked to 2.88K BTC, confirming aggressive buying pressure.
- Bitcoin is now trading over $110,941.21, resuming bullish structure and eyeing a clean retest of the $112,000 level.
Bitcoin surged beyond $111,000 following a robust breakout that obliterated previous intraday resistance and revived positive momentum. The surge followed hours of tight consolidation, resetting the hourly trend with increased volume and precise technical execution.
Strong Breakout Resets Intraday Trend
Bitcoin is back in breakout mode with a clean surge that erased prior consolidation and reset its hourly chart. The breakout candle delivered a $1,520 move, taking Bitcoin to a new local high. Momentum and volume surged simultaneously, signaling real commitment from market participants.
Bitcoin opened the hour at $109,536.50 and then exploded to $111,087.50, closing the session at $111,056.89. That gain marked a 1.39% rally in just one hour, driven by aggressive bids across Binance. Volume climbed rapidly to 2.88K BTC, making this spike one of the day’s most active moments.
Source: TradingView
Buyers stepped in hard once Bitcoin cleared $109,500. This level was tested throughout July 9 without success until the breakout candle forced continuation. Price now holds above $110,941.21, which is the intraday support line anchoring this surge.
Previous resistance near $110,000 had stalled progress for days, but this time, Bitcoin sliced right through. The hourly chart flipped from slow grind to sudden expansion as the trendline gave way. What was once a stubborn ceiling is now acting as a springboard.
Price Structure Points to Ongoing Pressure
Bitcoin’s broader setup on the daily chart also built toward this breakout, with the triangle squeeze nearing resolution. The $108,000 to $110,000 range held strong for over a week, keeping price coiled and volume compressed.
Source: (X)
This recent structure followed a textbook compression pattern, forming a base above higher lows into narrowing resistance. Once the upper band broke, the price responded with immediate acceleration and wide candle expansion.
Bitcoin had already rejected the $112,000 level multiple times across the past two months. This makes $111,056.89 a pivotal level that could now invite fresh liquidity. Traders will closely monitor whether this hourly surge pushes Bitcoin closer to a confirmed retest of $112,000.
Momentum flipped bullish within minutes of the candle opening, and the chart no longer reflects indecision. Volume confirms that whales or large players participated in this move, driving sentiment quickly.
Bitcoin now needs to maintain pressure above $110,941.21 to keep upside continuation intact. The structure has changed, and momentum has shifted with clarity. Bitcoin remains in the spotlight as price breaks away from compression with force and intent.
