Bitcoin News Today: Bitcoin retests key support as inverse head and shoulders pattern signals 28.6% surge to $144K

Bitcoin is currently testing the neckline of an inverse head and shoulders pattern on the weekly chart, a formation that has historically signaled bullish momentum following a confirmed breakout. The pattern, identified by analysts including Titan of Crypto, was established between December 2024 and June 2025, with a left shoulder, a pronounced head, and a right shoulder marking a transition from bearish to strengthening demand. A decisive breakout above the neckline occurred in July, with the critical support zone now retested between $112,000 and $114,000[1]. This retest is viewed as a standard phase in validating the pattern’s integrity, as price action consolidates before potentially advancing toward a projected $144,000 target[2].

The neckline, drawn across the high points of the shoulders, remains a focal area for traders. Current price activity near $117,791 reflects sustained buyer interest, with bulls attempting to maintain control above the $112K–$114K zone to preserve the bullish structure. Titan of Crypto emphasized that a successful retest would reinforce the pattern’s credibility, as it would demonstrate that sellers are unable to reclaim this critical support level. If the neckline holds, the measured move—calculated from the height of the head to the neckline—projects a potential 28.6% increase to $144,000[2]. This aligns with standard technical analysis principles, where the pattern’s height is added to the breakout point to estimate a price target[1].

Market dynamics further support the pattern’s validity. The breakout was accompanied by robust bullish candlesticks, indicating strong conviction among institutional and retail participants. Elevated trading volume—$58.3 billion over the past 24 hours—underscores the market’s absorption of the breakout. Analysts caution that a breakdown below $112K with bearish volume could invalidate the pattern, but prevailing conditions suggest buyers remain dominant. A consolidation phase or a bullish flag pattern may precede the next upward leg, provided the neckline holds[1].

Investors are advised to closely monitor the $112K–$114K zone, as a successful retest could serve as a strategic entry point for those anticipating the $144K target. The broader market’s focus remains on maintaining the breakout to capitalize on the projected upside. While forecasts highlight the potential for a significant surge, actual price movements will depend on the continuation of bullish sentiment and the absence of bearish catalysts[1].

Source: [1] [Bitcoin Shows Potential for Bullish Move Toward $144K After Weekly Inverse Head and Shoulders Breakout] [https://en.coinotag.com/bitcoin-shows-potential-for-bullish-move-toward-144k-after-weekly-inverse-head-and-shoulders-breakout/]; [2] [Bitcoin's inverse head and shoulders breakout signals potential 28.6% surge to $144K] [https://www.ainvest.com/news/bitcoin-inverse-head-shoulders-breakout-signals-potential-28-6-surge-144k-2507/].