Bitcoin Breaks Out of Bull Pennant, Targets $137,000

Bitcoin has recently confirmed a double breakout pattern, aligning two bullish technical structures that may push the price toward $137,000. This development follows a strong rally earlier in 2025, where the cryptocurrency's price consolidated within converging trendlines, forming a bull pennant. The breakout above the upper boundary of this formation confirms a bullish continuation setup, indicating that selling pressure has been absorbed and the market is entering a new phase of upward movement.

The bull pennant’s breakout, confirmed with volume and structure, now sets the stage for a measured target near $137,000. This projected target is based on the height of the flagpole preceding the pennant formation. The power of the breakout makes it apparent that buyers are taking back control from sellers, backed up by momentum. Traders often see this and assume it is a continuation pattern in a strong trend, further reinforcing their expectations of gains ahead.

Alongside the bull pennant breakout, Bitcoin has breached a pivotal horizontal resistance near $120,700. This level had previously rejected multiple bullish attempts over recent months. Its successful breach and flip into support add strength to the bullish setup. Reclaiming this resistance reinforces the view that sentiment has shifted, allowing Bitcoin to push into a higher price range. Holding above this level is now critical for maintaining the upward structure. It also offers a new floor for price action, reducing the likelihood of a short-term reversal.

The convergence of both breakout signals—structural and horizontal—adds weight to the argument for continued upside potential. These aligned technical markers are widely respected in market analysis. With both the bull pennant breakout and pivotal resistance reclaim confirmed, Bitcoin appears technically positioned for a continued rise. The next price magnet, based on chart projections, lies around $137,000. As long as Bitcoin can remain above the breakout levels, the market momentum is still bullish. No further resistance levels were identified from the breakout zone until the $137,000 target, and may be a potentially unimpeded rise.

This setup now becomes a critical point of interest for traders and market watchers focused on the current bullish trend. The technical projections suggest that $137,000 is now the next logical upside target if momentum continues above support. The market's ability to sustain this momentum will be crucial in determining whether Bitcoin can reach this target and beyond.