Bitcoin Builds Strength Above $100K as Altcoins Near a Breakout

BTC Consolidates While Altcoins Eye $1.8T Breakout

Bitcoin's (BTC) volatility has reduced, and traders are keen to monitor its performance above the support zone of $100,000. The arrangement reveals that the buying activity is robust in this zone, suggesting accumulation by big investors. As long as the trend persists, there could be a rally to a high of $112,000 and further as buyers regain control.

Analyst Ted showed an accumulation between the $100,000-$104,000 band, which is a defensive level for bulls. Charts show that trading activity in this zone absorbs selling pressure, leading to stability in the price. Such accumulation periods are an end to corrections preceding upward movements.

BTCUSD 4H CHART | SOURCE: X

BTC is structurally consolidating above $106,000, with volume decreasing towards the bottom. The result of this decrease in selling pressure, coupled with liquidity spots, shows that equilibrium is formed. On the upside, resistance is close to the level of $112,000, a zone that could result in fast profits once broken. If Bitcoin overcomes this obstacle, it could lead to targets between $118,000 and $120,000, confirming the continuation of the bulls.

Bitcoin Rebounds From Broadening Wedge Support

According to analyst Trader Tardigrade, the daily chart creates a widening wedge structure, which is often associated with escalating volatility and ultimate breakout actions. The token has recovered on the lower end of the wedge towards $104,000-$106000 and defended the long-term support. Every fluctuation in this trend is an indication that the market is in a tug-of-war, with the buyers gradually regaining ground.

BTCUSD 1D CHART | SOURCE: X

If such a continuation of the trajectory is sustained, the wedge has upside potential to $126,000-128,000. Long-term strength could break out in the medium term to reach a high of $134,000-$140,000. On the other hand, a confirmed close below the lower limit will be a caution. In the meantime, the rejection of support brings out bullish resilience and long-term hope.

Market Cap Nears $1.8T

In the meantime, the overall value of altcoins is testing a significant resistance zone of $1.7 to $1.8 trillion. Analyst Gordon suggested that repeated retests of this level diminish its barrier effect, implying an imminent breakout. The current trend of higher lows since 2020 confirms that capital rotation is surging towards non-BTC assets.

SOURCE: X

A decisive breakout of this resistance could trigger a market-wide growth, possibly elevating the value of altcoins to more than $2.5 trillion. This action would strengthen the optimistic mood in the crypto community and prove new institutional activities.

At the time of going to press, Bitcoin is trading at approximately $106,200, holding strong support above its key accumulation zone. If buyers defend this range and momentum regains strength, the next leg to higher levels of $120,000 becomes achievable. As volatility squeezes and liquidity accumulates, the next directional move of Bitcoin is eventual.