After a quiet weekend of consolidation just below its all-time high, Bitcoin is setting the stage for what could be a pivotal week. Trading around $109,000, BTC remains less than 3% below its record high near $112,000, and momentum is clearly building. With bullish structure intact and volatility tightening, analysts are increasingly confident that a breakout is imminent.
Several high-conviction analysts are now calling for a major price surge, citing both strong price action and bullish on-chain signals. The market appears to be coiling for a move, and historical patterns suggest that such periods of tight range-bound trading near highs often precede sharp upward impulses.
Bitcoin is trading just below its all-time high near $112,000, hovering around $109,000–$110,000 as the market enters a critical phase. The coming days could prove decisive in confirming whether BTC continues its upward trajectory or pauses to consolidate further. While the technical structure remains bullish, external factors—particularly rising global tensions and escalating trade conflicts between the U.S. and other nations—are expected to influence sentiment and market direction.
The spike in Taker Buy Volume suggests that shorts are now being squeezed out of the market. As overleveraged short positions are liquidated, prices are pushed higher, creating a feedback loop that accelerates upward movement. This dynamic is often seen ahead of major price expansions.
With BTC holding just under its all-time high and short sellers under pressure, momentum appears to be favoring the bulls. If Bitcoin breaks above $112K with volume confirmation, it could quickly extend into price discovery with targets ranging from $120K to $140K in the near term.
Bitcoin is trading at $109,742 on the weekly chart, holding just below its all-time high after an impressive multi-week rally. Price action shows strong continuation, with BTC now posting its eighth consecutive green weekly candle—a clear sign of bullish momentum and sustained buying interest. The $103,600 level, previously a multi-month resistance, has been cleanly flipped into support and now anchors the current leg of the uptrend.
The 34-week EMA, currently at $89,265, is rising steeply and remains well below the current price, reinforcing the strength of the ongoing move. All major moving averages (50, 100, and 200-week SMAs) are trending upward and widely separated, reflecting a healthy long-term trend structure.
What’s particularly notable in this chart is the lack of major resistance above current levels. With BTC pushing into price discovery, the next moves will likely be driven by momentum and market sentiment rather than predefined technical barriers.
Volume has remained consistent, showing no signs of distribution. If Bitcoin can close the week above $110K, it would mark the highest weekly close in history, adding further confidence to the bullish thesis and possibly attracting more institutional capital. The stage is set for potential continuation toward $120K and beyond.
Featured image from Dall-E, chart from TradingView
