Bitcoin Surges Past $101K with Eyes on $110K Bullish Breakout
- Bitcoin has climbed above $101,000 with a 4.5% daily gain, continuing its steady rebound from below $80,000.
- The price is moving within an ascending channel, supported by higher lows and consistent buying interest.
- Strong volume and structure suggest bullish momentum as Bitcoin approaches the key $110,000 resistance level.
- A breakout above $110,000 could signal further upside, while a drop below the channel may test lower supports.
Bitcoin has pushed above $101,000, gaining 4.50% on the day as buying momentum continues. The price currently stands at $101,399. The market is rebounding after a correction that brought Bitcoin below $80,000. Since that low, the price has steadily climbed, reclaiming key levels and moving closer to the previous high near $110,000.
The $110,000 area remains the main resistance. Volume remains strong, indicating sustained interest. Buyers have maintained control, forming higher lows and pushing the price back toward its peak. All eyes are now on whether Bitcoin can clear the resistance and continue its upward trend.
Bitcoin Holds Bullish Structure, Eyes $110K Breakout
Bitcoin is currently moving within an ascending channel, reflecting a rising trend on the chart. Following a correction earlier in the year, the price has formed a consistent pattern of higher lows and higher highs, steadily climbing from the $80,000 range toward $100,000.
This upward movement shows continued buying momentum, with buyers entering at each pullback to support the price. The pattern indicates a controlled, steady climb rather than a sharp surge, pointing to gradual accumulation over time.
The key features of this pattern include a support trendline connecting the recent lows from the $80,000 region, a resistance zone approaching $110,000, the previous peak, and price action contained within parallel upward-sloping trendlines that define the channel.
As long as BTC remains within this channel, the structure points to strength. A breakout above $110,000 would suggest further upside potential, while a move below the lower trendline could signal a test of lower support levels.
Bitcoin is trading inside an ascending channel, gradually approaching the $110,000 resistance level while holding a bullish structure.
Related Reading | Robinhood Eyes Blockchain Twist to Bring US Stocks to EU Traders
Read more: https://www.tronweekly.com/bitcoin-surges-past-101k-with-eyes-on-110k-bullish-breakout/
Text source: TronWeekly
