-
Bitcoin has surged past the critical $107,000 mark, demonstrating robust momentum and setting sights on a $135,000 target amid significant ETF inflows and substantial short liquidations.
-
Technical indicators and on-chain data collectively underscore a strong bullish trend, with trading volume and RSI levels confirming sustained buying pressure.
-
According to COINOTAG sources, the ongoing rally is fueled by over $1.1 billion in short liquidations and growing institutional interest, signaling a potential continuation of this upward trajectory.
Bitcoin breaks above $107K with strong momentum, driven by ETF inflows and $1.1B short liquidations, eyeing $135K as key resistance approaches.
Bitcoin Surpasses $107K, Targeting $135K Amid Strong Momentum
Bitcoin’s recent price action has marked a significant breakout above the $107,000 resistance level, a milestone that has not only reignited bullish sentiment but also positioned the cryptocurrency for further gains. The formation of a massive weekly candle highlights the strength of this move, supported by a breakout-retest-expansion pattern that technical analysts identify as a classic bullish continuation. This structure, confirmed by higher highs and higher lows on the weekly chart, aligns with Fibonacci extension targets, placing $135,000 as the immediate next objective. Such technical developments underscore Bitcoin’s resilience and the increasing confidence among traders and investors alike.
Technical Indicators and Volume Confirm Bullish Trend
Key momentum indicators reinforce the ongoing uptrend. The Relative Strength Index (RSI) currently stands at 72, signaling strong buying pressure without yet reaching overbought extremes. Additionally, the Moving Average Convergence Divergence (MACD) remains bullish, further validating the positive momentum. Trading volume has surged by 93% within the last 24 hours, reflecting heightened market participation and liquidity. These metrics collectively suggest that Bitcoin’s rally is supported by genuine demand rather than speculative spikes, providing a solid foundation for potential price appreciation.
Institutional Inflows and Short Liquidations Drive Price Rally
On-chain data reveals that institutional activity is playing a pivotal role in Bitcoin’s recent price surge. Spot Bitcoin ETFs have recorded substantial inflows, indicating growing institutional confidence and capital allocation into the asset class. Concurrently, short sellers have faced significant losses, with liquidations exceeding $1.1 billion, effectively removing bearish pressure from the market. This combination of factors has created a favorable environment for sustained upward momentum. Notably, transactions exceeding $100,000 have totaled over $124 billion, highlighting the scale of market engagement at elevated price levels.
Fibonacci Extensions and Future Price Projections
Analysts leveraging Fibonacci extension models project further upside potential beyond the immediate $135,000 target. The 1.618 Fibonacci extension level at approximately $135,003 serves as a critical resistance point, with intermediate targets extending to $144,000 and $160,000 based on breakout patterns from bull flags. Historical cycle analysis also suggests a possible long-term target near $184,181, derived from recurring Fibonacci extensions observed in previous market cycles. While these projections offer optimistic scenarios, they remain contingent on sustained market conditions and continued institutional participation.
Market Support Levels and Near-Term Resistance
Bitcoin currently holds above key support levels, with $115,220 acting as a crucial floor that has been successfully retested. Near-term resistance is identified at $119,000, a level that traders will watch closely to confirm the strength of the breakout. Maintaining price action above these thresholds is essential for validating the bullish structure and enabling further advances toward higher Fibonacci targets. Market participants should monitor volume trends and on-chain metrics to gauge the durability of this rally.
Conclusion
Bitcoin’s breakout above $107,000, supported by strong technical indicators and significant institutional inflows, marks a pivotal moment in its price trajectory. The convergence of rising momentum, ETF inflows, and short liquidations creates a robust foundation for potential gains toward the $135,000 target and beyond. While technical projections suggest further upside, maintaining key support levels will be critical to sustaining this bullish trend. Investors and traders are advised to stay informed on market developments and adjust strategies accordingly to capitalize on emerging opportunities.
