Bitcoin Breaks $112K Resistance, Targets $140K Gain

Bitcoin has confirmed a bullish breakout from an inverse head and shoulders pattern, marking a significant shift from consolidation to an upward trend. This pattern, which developed over several months, saw the head form in March 2025 and the shoulders align in January and June. The neckline resistance zone, positioned around $112K to $113K, was recently breached, signaling a bullish reversal.

Market analyst Jelle (@CryptoJelleNL) highlighted this breakout, projecting a target of $140K based on the measured move from the neckline to the head. This pattern is considered one of the most reliable reversal indicators on long time frames, suggesting potential for further upside if the market maintains its upward momentum.

Price momentum is aligning with technical strength, supported by rising volumes and institutional interest. Analysts note accumulating pressure from whales and long-term holders, reflected in declining exchange reserves and increasing dormancy across wallets. This indicates that strong hands remain in control, adding to the bullish sentiment.

The breakout has been aided by a 9.07% weekly gain, pushing the price of Bitcoin to $117,822. The 24-hour trade volume of $42.7 billion illustrates high activity and liquidity, typically confirming the legitimacy of chart patterns and offering confidence to market participants.

Despite the rally, market observers expect a potential retest of the $112K zone. This former resistance now serves as support and may be tested before the next move higher. A successful hold of this level could open the door for further gains, potentially hitting the bottom of the projected target around $140K–$150K if the pattern plays out.

Bitcoin's shift from a multi-month consolidation into a breakout rally indicates a changing sentiment in the market. Traders are closely watching price behavior around the neckline in anticipation of the next surge, with the potential for significant gains if momentum continues and support holds.