Bitcoin Price Prediction: BTC Eyes $125K Breakout as Triangle Squeeze Tightens

Key Points

1. Bitcoin's price is consolidating near $120,200 inside a maturing symmetrical triangle, suggesting a potential volatility breakout.

2. Key support levels include $118,600 (20 EMA) and $116,800 (triangle base), while resistance is near $121,800–$122,000.

3. A breakout above $122,000 could propel Bitcoin toward $125,000 or even $128,000, while a drop below $116,000 would invalidate the bullish structure.

4. Market indicators such as rising On-Balance Volume (OBV), increasing open interest ($87.75B), and a long-heavy bias in derivatives support the bullish case.

5. Bitcoin's dominance has declined to 61.7%, indicating increased altcoin inflows, which may still favor Bitcoin's near-term upside.