- Bitcoin confirms a strong breakout, establishing short-term bullish momentum toward $113,440 resistance.
- Trading volume surges 117%, signaling renewed investor confidence and intensified market participation.
- Global optimism and stable support near $108,500 strengthen Bitcoin’s outlook for continued upward movement.
Bitcoin started pumping hard right after the wedge breakout, recording a clear shift in short-term market direction. The cryptocurrency displayed strong upward momentum as price action confirmed a breakout from a descending wedge formation. The move attracted increased trading volume and investor participation, reflecting renewed buying interest across major exchanges.
Breakout Confirms Uptrend as Bitcoin Gains Strength
According to analysis prepared by Captain Faibik, Bitcoin traded within a descending channel before breaking above the upper resistance line. The price movement showed lower highs and lower lows until buyers took control near the lower boundary. After the breakout, volume expanded, and multiple candles closed above the trendline, confirming sustained upward momentum.
The projected target zone stood near $113,440, marking the upper boundary of the breakout structure. Bitcoin’s price action established a recovery phase after consistent declines since early October. Once the breakout occurred, buyers entered the market aggressively, pushing prices beyond resistance zones. The renewed demand reflected strong technical support near $102,000, which became the base for continued upward expansion.
Bitcoin rose by 3.93% in 24 hours and traded at $111,198.72 with a market cap of $2.21 trillion as per the CoinMarketCap data. Trading volume increased by 117.41% to $63.23 billion with more participation in the market. The circulating supply stayed at 19.93 million BTC, which keeps the cryptocurrency in limited supply.
Market Sentiment Improves Amid Global Developments
Presidents Donald Trump of the U.S. and Xi Jinping of China are set to hold a meeting in the Asia-Pacific Economic Cooperation (APEC) summit in the latter part of this month. Before the meeting, the U.S Treasury Secretary, Scott Bessent and the Vice Premier of China, He Lifeng will be holding preparatory talks in Malaysia.
According to Lennaert Snyder, “BTC is pushing against key $111,440 resistance. Gaining $111,440 triggers longs to $115,800 resistance.” A valid constant recovery out of the lows around $108,000 with possible extension to the levels of $117,000 and $121,000 should the strength continue.
Bitcoin’s upward trajectory remained firm as trading volume and liquidity strengthened. The general market sentiment became positive with a high level of support at the range of around $108,500 and the overall positive mood left the bullish confidence in the market before the next trading sessions.
