Bitcoin Forms Symmetrical Triangle Around $109,000, Bullish Breakout Possible

Bitcoin is currently forming a symmetrical triangle around $109,000, a pattern that has historically preceded significant bullish breakouts. This technical formation, characterized by lower highs and higher lows, has been observed since May 2025. Analysts are closely monitoring this pattern, as it mirrors previous cycles that led to substantial price increases.

One notable example is the triangle formation from October 2023, which followed a geopolitical conflict between Iran and Israel. During that period, Bitcoin surged from $27,000 to $49,000 within three months. The current triangle, ranging between $100,000 and $112,000, suggests a similar potential for an explosive breakout. The compressed volume during this phase indicates consolidation, and a confirmed move above $112,000 could validate this bullish pattern, setting the stage for another upward leg.

Comparing the current market structure to Bitcoin's 2017 supercycle reveals striking similarities. The expert behind this comparison believes that Bitcoin is repeating a decade-old rhythm on a larger scale. The ongoing rally mirrors the exponential rise seen in 2017, with the $95,000 to $100,000 range now acting as firm support. The path from $60,000 to $110,000 closely resembles Bitcoin's climb from $3,000 to $20,000 during the 2017 bull run.

The analyst indicates that Bitcoin's support levels are now stronger and hold more conviction. Institutional buying, consistent ETF inflows, and less volatility all signal a mature market. Each dip has been shallow and met with rapid rebounds, further bolstering the bullish sentiment. The market structure still favors Bitcoin bulls, with the $100,000 psychological level acting as a launchpad. Historical performance suggests breakout potential if the current resistance breaks.

Analysts now expect Bitcoin to retest $120,000 in the coming weeks. If that level is breached, some are eyeing a macro move toward $140,000. The bullish momentum remains intact as long as Bitcoin holds above the $95,000-$100,000 zone. Bitcoin's repeated response to geopolitical triggers and its technical triangle formation suggests bullish continuation. The chart points to a possible breakout if the price closes above resistance with volume confirmation.