- Bitcoin maintains a bullish megaphone pattern with potential continuation toward $126K and $140K targets.
- Price holds above $108K as analysts report expanding structure supported by stable liquidity and volume.
- Historical trends and ETF inflows reinforce Bitcoin’s steady accumulation and potential breakout momentum.
Bitcoin remains within a bullish megaphone formation on the daily chart, signaling a continuation phase as traders monitor upcoming breakout levels. The cryptocurrency maintains a stable range above $108,000 while showing expanding price swings between two diverging trendlines. Analysts maintain that despite short-term fluctuations, the structure supporting a potential upward continuation remains intact.
Expanding Structure Signals Continuation Toward Higher Levels
According to analysis prepared by Bitcoinsensus, Bitcoin is forming a bullish megaphone pattern supported by widening movements between its upper and lower boundaries. The lower boundary remains near $100,000, where price reactions have consistently formed higher lows. Price recently rebounded from this zone and now trades around $109,812, holding inside the upper half of the pattern.
The chart structure indicates three confirmed peaks and two major troughs, showing symmetrical expansion within the pattern. Analysts noted that this formation maintains a bullish continuation phase and often precedes a strong upward move once resistance is cleared.
The upper resistance trendline is around $126,000 where there could be a breakout for further acceleration towards the projected $140,000 level. Trading volume remains moderate, while broader liquidity continues to support steady market behavior. Data from CoinGecko show Bitcoin’s market capitalization at $2.18 trillion, with a 24-hour trading volume of $39.55 billion.
Market Outlook and Broader Context
On the daily time frame, Bitcoin also shows a bull flag pattern that aligns with the broader continuation scenario. According to an observation by Daan Crypto Trades, weekend trading has remained quiet, with price activity consolidating around $110,000 between the CME close and CME open.
Historical data from Coinglass shows that November tends to show high performance on bitcoin, with the price more than 19% monthly gains in the past decade. Market participants are still paying attention to liquidity and institutional flows, especially into spot bitcoins ETFs from companies like BlackRock and Fidelity.
Despite small intraday retracements, steady accumulation by long-term holders is still observed with the price being structurally positioned for possible continuation towards higher resistance zones. Bitcoin is still trading inside a controlled range as analysts are looking forward to a potential breakout.
