Bitcoin displays technical strength as it builds momentum for a potential breakout above the critical $122,000 resistance level. The cryptocurrency has established higher lows near $114,000, signaling gathering bullish pressure and suggesting an imminent price surge.
Daily trading volume has increased by 18% recently while Bitcoin maintains its position firmly above the $110,000 support zone. This technical setup mirrors historical patterns that preceded previous bull runs, reinforcing positive market sentiment.
Analysts project a decisive breakout could propel Bitcoin toward $140,000, citing historical resistance benchmarks and accelerating accumulation. On-chain data reveals heightened wallet activity, with active Bitcoin addresses exceeding 100 million as significant holders continue accumulating positions.
The combination of strengthening technical indicators, rising volume, and substantial holder accumulation positions Bitcoin for what market observers anticipate could be a notable upward price movement in the near term.