Bitcoin breakout may reclaim $100,000 and target $107,000, analysts say

Bitcoin (BTC) could reclaim $100,000 as support and rally toward $107,000 in the coming days, driven by a mix of technical and fundamental signals, Cointelegraph reported. Technically, BTC confirmed a breakout from a multi-week ascending triangle after moving above the pattern’s upper boundary near $95,000 and then retesting that level as support before bouncing higher.

Holding the reclaimed level preserves the triangle’s measured upside objective near $107,000, calculated by adding the pattern’s maximum height to the breakout point, with that target cited as possible by February. On the daily chart, BTC approached a potential bullish crossover between the 20-day and 50-day exponential moving averages; the last similar bull cross coincided with roughly a 17% advance over the following month, a pattern the outlet said would strengthen the case for trend continuation if the signal is confirmed.

Fundamentally, selling pressure from long-term holders has reportedly slowed. Data on UTXOs dormant more than five years showed the 90-day average of spent outputs peaked near 2,300 BTC earlier in the cycle and later declined toward the 1,000 BTC level, suggesting fewer coins hitting the market.

The slowdown in OG selling aligned with the largest net Bitcoin outflows from exchanges since December 2024. Analyst DarkFrost said: “This suggests that OGs have also slowed down their selling...

Key Topics

Crypto, Bitcoin, Ascending Triangle, Ema Crossover, Long-term Holders, Spot Etf