Bitcoin News Today: Bitcoin Retests Key Breakout Zone Near $114K Amid Bullish Technical Setup

Bitcoin is currently retesting a key breakout zone amid a well-structured bullish setup that has drawn attention from traders and analysts. Following a decisive breakout from an inverse head and shoulders pattern, BTC has been consolidating around the $114,000–$117,000 range, reinforcing the potential for a sustained upward move. The price of Bitcoin at the time of writing stood at $114,554, with 24-hour trading volume exceeding $54.5 billion, indicating strong market activity and confidence [1].

The breakout came after the formation of a textbook inverse head and shoulders pattern—a widely respected reversal structure in technical analysis. This pattern, characterized by a left shoulder, a head, and a right shoulder, culminated in a decisive move above the neckline, which had previously acted as resistance from December 2024 through July 2025. The retest of this breakout zone is now in progress, with price hovering around $114,000–$117,000. This behavior is considered healthy in technical analysis, as it validates the former resistance level as new support [1].

Market observers, including analyst BitBull, have highlighted the technically sound nature of the move. The retest aligns with historical breakout patterns, suggesting strong support is in place and reducing the likelihood of a reversal [1]. Additionally, the price movement is gravitating toward a notable CME gap near $114.2K, a level often associated with increased closing price activity. Analysts are monitoring whether this gap will be filled during normal trading hours, which could further validate the bullish setup [1].

If the pattern holds and the gap is filled, the projected price target could reach as high as $160,000. This estimate is derived from the standard technical analysis method of measuring the pattern’s height and projecting it from the breakout point. The current price behavior has not shown signs of weakness below the retest zone, suggesting that long-position holders remain confident and are managing the price with minimal volatility [1].

As BTC continues to consolidate near this critical support zone, traders are closely watching for a potential bounce and the next leg higher. The alignment of pattern confirmation, gap-filling potential, and strong price stability collectively signals a continuation of the bullish trend. However, market participants remain cautious, as even a minor breakdown could trigger a reassessment of the setup and alter the trajectory of the price action [1].

Source: [1] BTC Retests Breakout Zone as $114.2K CME Gap Fill Signals Bullish Setup (https://coinmarketcap.com/community/articles/688c830fffe4bc4b9995c3f3/)