After peaking in 2021 and going by way of a painful correction, Bitcoin discovered its backside in late 2022 close to $15,500. What got here subsequent adopted a well-known sample: an extended interval of sideways motion and accumulation in 2023, the place month-to-month candles tightened and shaped a base. That regular groundwork finally led to a powerful breakout previous $30K, kicking off a brand new bullish cycle.
By mid-2024, Bitcoin wasn’t simply recovering, it was surging. It moved by way of main resistance ranges like $60K and $90K with stunning ease, lastly pushing above $100,000 and now reaching a brand new milestone of $ 111,000. The most recent month-to-month candle is giant and inexperienced, one other sign that this isn’t only a spike, it’s a breakout backed by momentum.
The rise of Bitcoin above $111,000, as indicated by standard crypto analysts Cointelegraph on X, previously referred to as Twitter, is greater than only a headline. It’s the continuation of a significant pattern that’s been constructing for the reason that lows of 2022. In case you zoom out to the month-to-month BTC/USD chart from 2021 to 2025, the construction tells a transparent story: a powerful restoration, constant greater lows, and breakout after breakout.
Bitcoin has now entered value discovery mode. Meaning there’s no historic ceiling above us, and the one guides are psychological spherical numbers like $120,000, $150,000, and $200,000. The general pattern stays bullish, with no speedy indicators of weak spot within the construction.
In any robust uptrend, assist zones matter greater than resistance. The $90K–$95K space, just lately examined and held, is now a key assist stage. If the market cools off, look to $60,000–$70,000 as the following main space of curiosity. However proper now, consumers are nonetheless firmly in management, and dips are being absorbed rapidly.
Quantity tells the identical story. Breakouts in late 2023 and mid-2024 had been backed by surging quantity, displaying robust market participation. The latest transfer above $100K got here with renewed quantity as nicely, suggesting that this isn’t simply speculative momentum, it’s actual demand. At this level within the cycle, sentiment typically takes over technicals, and large spherical numbers like $150,000 begin to really feel inside attain.
