- Bitcoin trades above $100K, maintaining a bullish inverse head and shoulders with breakout potential toward $132K and beyond $150K.
- The neckline at $108K remains the breakout trigger as Bitcoin mirrors gold’s 2008–2011 rally, projecting a strong upward continuation.
- Bitcoin preserves its bullish setup above $85K, and any move beyond $108K could confirm a powerful trend continuation toward new highs.
According to Javon Marks latest analysis on Bitcoin, the cryptocurrency trades above $100,000, preserving a bullish inverse head and shoulders structure. The pattern began forming in late 2024 and remains intact despite recent price dips. The neckline resistance at $108,000 now serves as the key breakout level. A surge beyond this point could spark a significant upward trend, targeting levels beyond $140,000.
The formation’s left shoulder emerged during Bitcoin’s December 2024 dip. By March 2025, the price had plunged further, marking the head. A steady rebound unfolded through April, forming the right shoulder by mid-June. These pivot points shaped a defined inverse head and shoulders structure, a classic bullish continuation signal.
Key Resistance Holds as Bitcoin Builds Momentum
The neckline forms around $108,000, aligning with previous local highs. Price pulled back after testing this level but stayed above $100,000. Hence, the bullish structure remains valid. If Bitcoin reclaims $108,000, a breakout scenario would activate. The projected upside, based on the pattern’s depth, targets a move toward $132,000.
Source: Javon Marks
Moreover, a brief consolidation could follow this breakout. However, the long-term projection aims for a rally past $150,000. This forecast aligns with similar technical movements observed in gold during its 2008–2011 bull cycle.
Historical Gold Chart Mirrors Bitcoin’s Pattern
This inverse head and shoulders pattern is also seen in a comparative inset of the price of Gold from 2007 to 2011. After bottoming out in late 2008, Gold developed a right shoulder in early 2009 before breaking the neckline in late 2009. Thus, by 2011, Gold had risen above $1,800.
Bitcoin’s current structure mirrors this historical pattern. Additionally, Gold’s breakout was supported by rising volume, which validated momentum. Bitcoin holding above the $85,000 preserves the structure’s integrity. Any break below this level invalidates the setup. Until then, Bitcoin maintains a bullish trajectory.
