- Bitcoin’s breakout past $100K confirms bullish momentum driven by whale activity, short covering, and strong macro sentiment.
- A falling wedge breakout and whale withdrawals signal renewed institutional confidence and a strong base for further BTC gains.
- With momentum above $103K and resistance at $109K, BTC eyes $130K as Trump’s crypto stance boosts market optimism and inflows.
According to Popular analyst Lucky, Bitcoin has surged past $100,000, signaling renewed bullish momentum and institutional interest. A combination of whale accumulation, short-covering, and macro optimism has fueled this explosive move. After weeks of consolidation, BTC broke out of a falling wedge pattern, forming a solid technical base for further gains. Buyers have now taken control, pushing the price into a strong uptrend.
Besides technical confirmation, on-chain data highlights a major whale withdrawing over 2,200 BTC — worth around $226.75 million — from Binance and Kraken. This aggressive move indicates confidence and potential long-term accumulation. Additionally, the same whale recently turned profitable on major short positions. His current gains include $2.17 million from BTC and $1.77 million from SOL. He began closing his SOL shorts to lock in profits, showing a sentiment shift among big players.
Breakout from Falling Wedge Sets Bullish Stage
Bitcoin’s price action from January to April 2025 formed a falling wedge pattern. This setup often signals a bullish reversal. During this phase, BTC tested key support near $83,772 multiple times. It respected this zone and maintained a market structure. In early May, Bitcoin broke out of the wedge, confirming the reversal and triggering strong buying.
Moreover, this breakout aligned with historical resistance turned support, between $74,700 and $83,772. The green zone became a springboard, launching BTC beyond $100K. Recent daily candles show long bodies with short wicks, confirming sustained buying pressure. No bearish divergences are present, supporting further upside continuation.
Bullish Targets Now Point to $130K
Currently, BTC trades above $103,000 with strong momentum. The next major resistance stands at $109,588. Once surpassed, the path toward $130,000 opens up with minimal historical resistance. A stepped arrow projection outlines expected consolidation phases before further gains.
Source: Lucky
Additionally, macro sentiment plays a role. Trump’s crypto-friendly stance is adding fuel to the bullish fire. As a result, both institutions and retail investors are showing increased interest. Furthermore, high-volume breakout zones confirm growing market participation and renewed confidence.
