
Bitcoin Rebounds Near $109K Amid Resistance — Potential Breakout Ahead
The recent movement of Bitcoin has seen its price rebound above the $108,000 level, yet it continues to face resistance around its previous high of approximately $111,800. This persistent challenge to surpass that threshold has generated uncertainty within the market, as traders and analysts alike watch for decisive momentum that could propel Bitcoin toward new all-time highs.
Market observers suggest that current conditions may be ripe for a bullish breakout. Some, noting strong on-chain activity and favorable technical signals, anticipate that Bitcoin could reach between $120,000 and $150,000 in the coming months. This outlook is supported by macroeconomic factors, including liquidity flows and an overall climate conducive to asset appreciation. However, caution remains prevalent, as short-term volatility and potential pullbacks are likely to persist.
Two primary scenarios are considered plausible for Bitcoin’s near-term trajectory. The first involves a breakout from a bullish flag pattern, which could enable Bitcoin to surge past the $113,000 resistance and continue its upward climb unimpeded. Nonetheless, market dynamics suggest that such parabolic moves are often preceded by shakeouts designed to shake weak holders and stabilize the market.
The second and more probable scenario involves a rejection at the breakout level or a liquidity grab near $113,000. This could result in Bitcoin retracing to around $90,000 to $93,000 — a level that analysts view as an accumulation zone. Such a dip would not indicate bearish market sentiment, but rather present a strategic opportunity for investors to increase their holdings ahead of a potential rally. The presence of substantial liquidity and a notable gap in the futures market at this level further support this view.
Long-term indicators also paint an optimistic picture. Large wallets continue to accumulate Bitcoin, indicating institutional interest and confidence in higher prices. Additionally, macroeconomic trends, such as the growth of the M2 money supply, suggest that Bitcoin remains undervalued relative to broad monetary policy measures.
Historically, periods of prolonged ranging—lasting over 200 days—have preceded significant upward movements. The current range-bound phase may be setting the stage for a substantial breakout later this year, with strategic dips viewed as crucial entry points for seasoned investors.