Bitcoin Aims for $132,000 as Bullish Pattern Forms

Bitcoin is currently forming a daily inverse head and shoulders pattern, which, if confirmed, could lead to a significant bullish breakout. This pattern, identified by trader CryptoBoss, features a left shoulder formed around January, a deep correction that formed the head in April, and a developing right shoulder in late June. The neckline of this pattern sits near the $100,000 level, and traders are eagerly awaiting a high-volume close above this level to confirm the bullish continuation.

The inverse head and shoulders pattern is a well-known technical analysis indicator that signals a market bottom before a rally. If Bitcoin closes decisively above the $100,000 area, the breakout projection targets $132,000. This measured move projection is calculated from the bottom of the head to the neckline, adding directly to the breakout point. The success of this pattern depends on buyer momentum and consistent trading volume, which are crucial for a sustained breakout.

Traders are closely monitoring two main signals: a daily close above the neckline and increasing trading volume. Without strong volume, breakouts from this structure may fail or trap buyers. Currently, the price is around $98,918, with buy-side pressure testing the neckline repeatedly. Bulls are likely aiming to close above $100,000 in the coming sessions, which could invite momentum traders back into the market.

The chart shared by CryptoBoss, using Coinbase data, marked the projection date as July 29, 2025. If the setup holds, it could signal the start of another bullish leg in Bitcoin’s macro cycle. The market is watching to see whether this pattern delivers its bullish target, potentially pushing Bitcoin toward $132,000. Traders now await confirmation signals, particularly a clean breakout paired with daily volume above recent averages. While bears remain active, a breakout could quickly change sentiment.

In summary, Bitcoin is forming a bullish reversal pattern with a potential upside of $132,000. The inverse head and shoulders pattern, if confirmed by a high-volume close above the $100,000 neckline, could trigger a major rally. Traders are watching closely for confirmation in the coming days, as this pattern has the potential to send BTC beyond six figures in the coming sessions. The success of this pattern depends on buyer momentum and consistent trading volume, which are crucial for a sustained breakout.

Ask Aime: Is Bitcoin set for a $132,000 rally with the formation of an inverse head and shoulders pattern, signaling a potential bullish breakout?