- Bitcoin rebounded from $99K as predicted, confirming bullish momentum at the confluence zone.
- BTC is consolidating near $108K, with a wedge pattern building pressure for a potential breakout.
- A confirmed move above $110K could start a broader rally, with bulls currently maintaining control.
Bitcoin reacted precisely at the confluence zone, as forecasted by analysts, with price action confirming bullish momentum. Support held firmly around the $99,000 zone earlier in the week. BTC rebounded strongly, with bulls gaining control and pushing the price toward key resistance areas.
BTC Consolidates Near Key Resistance After Strong Rebound
Bitcoin continued its upward movement over the weekend, approaching a major resistance zone near $108,000. As of writing, BTC is trading at $108,032.22. This move came after Bitcoin bounced off the $99,000 level earlier in the week, confirming a bullish setup.
According to chart analysis from Titan of Crypto, the price responded exactly at the confluence zone. This technical area had previously been identified as a strong support range. Market behavior around this zone validated bullish predictions as buyers defended the support level.
Meanwhile, short-term technicals also support this trend. According to an observation by analyst BitBull, the daily MACD has confirmed a bullish crossover. “Another signal which shows that bulls are in control,” BitBull posted on X. However, trading volume remains low due to the weekend, which could result in limited short-term movement.
Wedge Formation Builds Pressure for a Breakout
Analysts are now closely watching a wedge pattern forming on the 1-hour chart. According to crypto analyst Daan, the structure has been tightening beneath $108,000, just under the all-time high zone of $108,351.
This trend tends to show that a breakout step is approaching. Bitcoin is yet to make a clean break above 108,500 despite its recent efforts to lift itself above this mark. Analysts believe a confirmed breakout above $110,000 could trigger a broader market rally.
A close above the weekly resistance could mark a new phase of the uptrend. Market conditions remain calm for now, but traders expect volatility to return once the new trading week begins.
