BTC Bulls Defend Key Zone Eyes on $123K Breakout Extension

13 May

Bitcoin has successfully completed a breakout above the prior weekly high structure, followed by a healthy pullback which is currently unfolding into a bullish pennant formation. The key highlight is how price is retesting the neckline zone with precision, which now doubles as a strong immediate buyback zone.

The reaction from this level is already showing strong bullish momentum, with price gearing up to challenge the previous ATH. A breakout above that resistance should unlock the path toward the projected $116.5k and $123.4k targets as shown on the chart. Failure to hold the Immediate Buyback Zone opens the door toward the Strong Demand Zone, which remains a valid re-accumulation point within this bullish cycle.

Stay sharp. The structure remains intact unless the neckline fails decisively.

15 May

İşlem aktif

Price forming potential bullish pennant.

22 May

Not

BTC breakout from the bullish pennant as expected to kick-start massive bullish move.