- Bitcoin trades near $104K within a bullish flag, showing signs of an imminent breakout toward the $109K–$110K target range.
- A recent weekly MACD bullish cross reinforces momentum as BTC mirrors past breakouts that triggered multi-month rallies in 2023 and 2024.
- BTC maintains support above $101K while volume stays consistent, signaling strong structure ahead of a potential continuation rally.
According to analyst World Of charts, Bitcoin is trading near $104,000 after it broke out from a symmetrical triangle, suggesting a likely breakout from key resistance levels. The cryptocurrency recently confirmed a bullish pennant formation turning into a bullish flag. The formation implies yet another upsurge, with possible destinations $109,000 to $110,000.
Also according to analyst Moustache’s analysis, Bitcoin has maintained strong support above $101,450, which adds to the upbeat bias. The current formation is similar to previous breakouts from similar patterns in 2023 and 2024.
Moreover, the weekly MACD just made a bullish cross—an event that previously triggered major rallies. The last two MACD crosses occurred in October 2023 and 2024. Each instance preceded significant surges in Bitcoin’s price. Hence, market watchers consider this a strong bullish confirmation. Bitcoin is also trading well above psychological levels like $100,000, further boosting confidence.
Symmetrical Triangle Forms Ahead of Apex Breakout
Bitcoin has consolidated inside a symmetrical triangle since May 9. Price action remains tightly bounded between defined trendlines. However, recent sessions show higher lows and more bullish candles forming. This signals rising buying pressure as the apex approaches. Consequently, a breakout appears imminent. Additionally, the volume remains stable at around 504,000 units, confirming sustained trader interest.
Source: World Of Charts
The chart from Binance’s BTC/USDT pair displays a recent upward momentum since May 13. Bitcoin bounced from a local low near $101,500 and now tests resistance at $104,000. Besides, previous breakouts followed similar volume consistency and price compression. This ongoing formation closely resembles the price behavior before Bitcoin’s early May surge.
Multi-Year Trend Reinforces Upside Momentum
On the macro view, Bitcoin continues respecting a multi-year uptrend that began in early 2023. Each year has featured a descending triangle followed by explosive breakouts. In 2023, Bitcoin jumped from $31,000 to over $40,000. The same pattern repeated in 2024 and again in 2025.
Source: Moustache
Moreover, momentum indicators confirm the strength of each breakout. Volume spikes always accompanied upward moves, showing increased market participation. Now, Bitcoin trades at an all-time high, supported by historical price cycles. Significantly, each breakout came after 6–8 months of consolidation, suggesting the next leg could already be underway.
