Bitcoin Breakout Above $112K from Ascending Triangle Eyes $120K
Bitcoin is consolidating around $110,300, forming an ascending triangle on the four-hour chart with higher lows near $107,500 and horizontal resistance at $115,000. A clear breakout above $112,000 could trigger a rally toward $115,000 and potentially $120,000. Daily trading volume remains steady at $32.5 billion and market capitalisation stands near $2.2 trillion, indicating solid liquidity. The RSI holds near neutral 50 and the volume-to-market-cap ratio is 1.44%, reflecting controlled market activity. Analysts at TradingView and CoinMarketCap note rising institutional inflows supporting the bullish setup. Traders should watch support at $107,200–$107,500 and resistance zones at $113,800 and $119,900 for confirmation. A sustained move above $112K would reinforce the path to new highs and offer short-term breakout opportunities.
Bullish
Bitcoin’s formation of an ascending triangle with rising lows and capped resistance signals building bullish momentum. A confirmed breakout above $112K, anchored by steady daily volume (~$32.5B), neutral RSI, and increasing institutional inflows, typically precedes strong upward moves. In the short term, traders targeting $115K and $120K may find breakout strategies profitable. Over the longer term, sustained liquidity and institutional interest underpin a favourable outlook, raising the probability of new all-time highs. This combination of technical structure and fundamental support drives a bullish market impact.