- Bitcoin forms a double retest near $110K, reflecting the 2023 pattern that led to a 185% surge over several months.
- Buyers defend $100K strongly, preventing sellers from reclaiming control, creating momentum for potential continued bullish moves in Bitcoin.
- MicroStrategy acquires 196 BTC at an average price of $113,048, bringing total corporate holdings to 640,031 BTC since 2020.
The Bitcoin double retest has emerged as a focal point for traders, with historical patterns suggesting possible large rallies from similar market structures. At the same time, MicroStrategy continues to expand its position, acquiring additional coins during the latest price moves.
Historical Double Retest Formation Resurfaces
Crypto analyst Jelle pointed to a recurring pattern in Bitcoin’s chart, referencing the last double retest formation before Q4 of 2023. During that period, Bitcoin broke above the $30,000 level, retested it twice, and then surged more than 185% in the following months.
According to Jelle, the market is now showing an almost identical structure near the $100,000 mark. Bitcoin surged past the resistance, retraced for a first retest, rebounded strongly, and is now undergoing a second retest phase.
This double confirmation of support suggests continued confidence from buyers. Historically, such moves signaled strong momentum, as sellers failed to regain control, allowing bulls to prepare for extended upward runs.
Market Structure Around the $110,000 Level
The current setup places the $110,000 zone as a crucial level for Bitcoin’s price stability. Holding this support is seen as critical for validating the bullish structure outlined by Jelle.
Failure to sustain above $110,000 could challenge the reliability of the double retest pattern. However, a successful hold and renewed strength could mirror the earlier scenario that led to substantial rallies.
If the pattern continues to align with the 2023 breakout, projections point toward an extended move. A 185% rally from the $110,000 base would target levels near $285,000, a range Jelle suggested fits within previous cycle behaviors.
MicroStrategy Strengthens Bitcoin Position
Alongside the technical discussion, corporate accumulation remains steady. Michael Saylor announced on X that MicroStrategy purchased 196 BTC for about $22.1 million at an average price of $113,048.
As of September 28, 2025, the firm holds 640,031 BTC acquired for roughly $47.35 billion, with an average purchase price of $73,983 per coin. The ongoing acquisitions show a continuous commitment to Bitcoin as a long-term asset reserve.
This purchase adds to the company’s consistent strategy of buying during different market phases, reinforcing its position as the largest institutional holder. With both market structures and corporate adoption advancing, Bitcoin continues to attract wide attention from traders and institutional investors alike.
