- Bitcoin holds above $107K, signaling a breakout toward the $135K Fibonacci extension zone.
- Whale accumulation and strong on-chain activity reinforce the bullish market structure.
- A short-term dip to $93K is possible but seen as a setup for a stronger rally toward $135K.
Bitcoin continues to hold above the $107,000 level as it challenges the first major Fibonacci extension near $107,000. Market analysts maintain that once this barrier is cleared, the next target will be around $135,000. The market structure remains supportive of a broader upward movement if momentum sustains.
Bitcoin Holds Above Key Support and Approaches Critical Resistance
According to an analysis prepared by Titan of Crypto, Bitcoin has successfully retested previous resistance levels and is now targeting the $135,000 range. The cryptocurrency is currently trading at $107,691.92, maintaining strong technical positioning.
The first Fibonacci extension level is near $107,000, and breaking above this could open the door to the next key zone. Doctor Profit noted in a recent statement that “we’re standing in front of a breakout” and expects a potential move toward $120,000–$150,000 in the coming months.
The current structure is backed by increasing on-chain activity, whale accumulation, and favorable liquidity conditions. Larger wallets have been accumulating steadily, showing confidence in the market’s direction.
Possible Short-Term Pullback Before Next Leg Higher
While the long-term view remains bullish, some analysts suggest a short-term correction could occur. According to an observation by Doctor Profit, a revisit to the $90,000–$93,000 zone is possible if Bitcoin faces rejection at the $113,000 level. He identified this range as a zone of high liquidity and a key CME gap.
This scenario, while appearing bearish, is viewed by analysts as a healthy shakeout that could reset leverage and remove weak hands. “$93K is not bearish. It’s clearly a gift,” Doctor Profit commented. He added that such a move would strengthen the base for a stronger rally ahead.
According to market data, Bitcoin has now moved within its current range for 226 days. This period mirrors previous accumulation phases before large breakouts, suggesting that the move toward $135,000 remains on track.
