Bitcoin is Coiling – Ready to Break Out Toward 112K?

On the H8 timeframe, BTCUSDT is forming a clear bullish setup. After a strong rebound from the support zone around 104,489 — which aligns with a previous demand area and Fair Value Gap — price has broken above the descending trendline and is now retesting the resistance near 107,500. This structure is shaping into a broadening triangle pattern, signaling a potential breakout.

If BTC holds the 105,000–106,000 area during the upcoming pullback, there is a high probability of a bullish breakout toward the 112,000 level — a key previous high.

On the news front, market sentiment is improving as U.S.-based Bitcoin ETFs attract fresh inflows, coupled with growing expectations that the Fed will hold interest rates steady amid signs of economic slowdown. These factors are providing strong support for BTC’s medium-term bullish outlook.