Bitcoin is showing growing signs that a decisive breakout phase has begun, with market structure and on-chain data aligning toward a potential move to $107,000 in the near term. A mix of technical strength, easing sell pressure and supportive macro signals is reinforcing bullish expectations.
Bullish Chart Structure Strengthens Upside Case
Bitcoin recently confirmed a breakout from a multi-week ascending triangle, pushing above the key $95,000 resistance zone. The subsequent pullback successfully retested this level as support, a behavior typically associated with valid breakouts rather than false moves. As long as price holds above this area, the pattern’s measured target near $107,000 remains intact. Momentum is further supported by a potential bullish crossover between the 20-day and 50-day moving averages, a signal that previously preceded double-digit gains.
Long-Term Holder Selling Continues to Fade
On-chain data shows long-term Bitcoin holders are reducing distribution, with fewer dormant coins entering circulation. Coins held for over five years are being spent at a slower pace, signaling renewed conviction among seasoned holders. At the same time, Bitcoin outflows from exchanges are accelerating, tightening available supply.
Bitcoin’s correlation with gold has recently turned negative, a setup that historically preceded strong rallies. Combined with expanding global liquidity and easing monetary conditions, the broader environment appears supportive of continued upside momentum.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.