Key Insights:
- A double bottom is forming between $101K–$103K, while resistance at $109K marks the upper boundary of Bitcoin’s consolidation range.
- Bitcoin has held above $100,000 for 44 consecutive days, forming strong support near the $102,000 double bottom zone.
- Analysts: bullish breakout likely if Bitcoin maintains support, with potential targets between $112K and $120K.
Bitcoin (BTC) price has been trading above $100,000 for weeks, forming a technical structure that analysts recognize as a potential double bottom.
This pattern, forming across multiple charts, may define the asset’s next major movement as consolidation narrows between key levels.
Bitcoin Price Double Bottom Formed
Bitcoin price recent movement has displayed a double bottom pattern between $101K and $103,000. Technical analysis from Trader Tardigrade confirmed the presence of this formation, sitting at the lower end of Bitcoin’s broader consolidation range between $101K and $109K.
Notably, the pattern emerged after the top crypto faced resistance near $109K twice, forming a double top in that zone. The price then retraced and established support near the lower boundary, where it is now retesting.
In addition, the chart reflected this sideways action with symmetrical highs and lows, indicating that Bitcoin is preparing for a directional move. Historically, consolidation of this nature often precedes strong price action in either direction.
Consequently, if the double bottom holds, it may provide the necessary foundation for buyers to push the price back toward the upper resistance zone. This may happen especially as the range tightens into late June and early July.
Resistance Holds at $109K as BTC Price Coils
While support has held firmly, Bitcoin continues to face resistance at the $109,000 level. Multiple attempts to break above this upper boundary have resulted in pullbacks, creating a consolidation channel that is becoming increasingly compressed.
The zone between $106,000 and $109,000 remains heavily contested by sellers, and traders are watching this range closely for signs of breakout momentum.
Technical projections show that a move above $109,000 may trigger short covering and open a path toward $112,000. However, Bitcoin must close above this resistance zone with strong volume to confirm bullish continuation.
Until then, the current range remains intact, with alternating rejections and bounces defining short-term market behavior.
Bitcoin Price Maintained Position Above $100K for 44 Days
Meanwhile, Bitcoin price has consistently closed above the $100,000 level for 44 straight days, as noted by analysts including Crypto Caesar and CryptosBatman.
This stability is notable in the context of broader market uncertainty and suggests that the $100,000 mark has become an established psychological and technical support level. On shorter timeframes, such as the 4-hour chart, this support aligns with prior breakout zones and ascending trendlines.
Moreover, this duration of uninterrupted price retention above a major milestone indicates resilience from long-term holders and a potential shift in market structure.
The analysts also observed that volume has remained consistent during this period, supporting the sustainability of current levels.
Analysts Forecast Upside Targets if Support Holds
More so, CryptosBatman and Crypto Caesar suggested that Bitcoin price could rally toward $112K or even $120K if it maintains its current support structure.
The projections were based on recurring chart patterns observed in previous cycles. For instance, similar descending wedge formations in 2023 and 2024 were followed by upward breakouts, as seen in long-term weekly charts.
Furthermore, the Wyckoff accumulation model, referenced by CryptosBatman, also supported the outlook that Bitcoin is in the latter stages of accumulation. The final phase of this model typically precedes a breakout to new highs, provided that support remains unbroken.
If historical behavior repeats, Bitcoin price may be positioned for a rally that could define the second half of 2025, particularly if the broader market trend remains favorable.
