Bitcoin Targets $132,000 as Bullish Pattern Holds Above $100,000

Bitcoin is currently trading above $100,000, maintaining a bullish inverse head and shoulders pattern. This pattern, which began forming in late 2024, suggests a potential breakout toward $132,000 and beyond $150,000. The neckline resistance at $108,000 is the key level to watch, as a surge beyond this point could confirm a powerful trend continuation toward new highs.

The inverse head and shoulders pattern is a classic bullish continuation signal. The left shoulder formed during Bitcoin's December 2024 dip, the head was marked by a further price plunge in March 2025, and the right shoulder was formed by a steady rebound through April and mid-June. This structure remains intact despite recent price dips, with the neckline forming around $108,000, aligning with previous local highs.

If Bitcoin reclaims the $108,000 level, a breakout scenario would activate, targeting an initial move toward $132,000. A brief consolidation could follow this breakout, but the long-term projection aims for a rally past $150,000. This forecast aligns with similar technical movements observed in gold during its 2008–2011 bull cycle, where gold developed a right shoulder in early 2009 before breaking the neckline in late 2009 and rising above $1,800 by 2011.

Bitcoin's current structure mirrors this historical pattern in gold. The integrity of the bullish setup is preserved as long as Bitcoin holds above $85,000. Any break below this level would invalidate the setup. Until then, Bitcoin maintains a bullish trajectory, with the potential for a significant upward trend if it surpasses the $108,000 resistance level.