The post Bitcoin on the Verge of a Breakout—$137,000 Target in Sight if This Trade Setup Confirms! appeared first on Coinpedia Fintech News
The Bitcoin price recently demonstrated significant moves and broke into a new All-Time High of $126,199. With this, the crypto markets’ development has gained significant strength, helping popular cryptos head towards their respective resistance levels. Although the BTC price faced a minor sell-off, the token continues to remain accumulated and awaits the next decisive move. On the other hand, the volatility has dropped notably, and this pause precedes a breakout as the market sentiment is leaning bullish.
With the current trade setup, the BTC price could break above the consolidation. Moreover, it could mark up a new ATH much above $130,000, if the rally validates this move.
Soon after marking new highs, the price volatility and a significant amount of volume have dropped. As a result, the star crypto is trading within a strong support and resistance range. Interestingly, this consolidation has helped the price to form a bullish structure, breaking which the BTC price is believed to pull the next leg up.
The short-term chart of Bitcoin suggests the price is stuck within a decisive phase. It is slowly healing towards the apex of the bull flag. The technical indicators also go in line with the 4-hr MACD shows a drop in the selling pressure with the levels about to undergo a bullish crossover. On the other hand, the StochRSI has risen over the bearish trend and, after a bullish crossover, is heading towards the upper threshold. This suggests the price is gearing up for a bullish move, resulting in a significant breakout in the coming days.
Bitcoin’s consolidation near record highs signals that the market is preparing for its next major move. With bullish sentiment gradually returning and institutional demand showing strength, the stage appears set for a potential breakout. However, traders should remain cautious, as failed breakouts in such zones often trigger swift corrections. If momentum aligns with increasing accumulation and macro support, Bitcoin could reclaim its upward trajectory—making the $137,000 mark a realistic target in the coming weeks.
