Bitcoin (BTC) has renewed momentum after a technical break, which could be signaling an upward continuance. The digital asset is trading at $114,554 at the time of writing.
Breakout from Inverse Head and Shoulders Pattern
Bitcoin recently broke out from an inverse head and shoulders pattern—widely regarded as a reliable reversal structure. This formation included a clearly defined left shoulder, head, and right shoulder, followed by a decisive breakout above the neckline.
The neckline, which acted as diagonal resistance from December 2024 through July 2025, has now been surpassed. After the breakout, BTC began to retest the neckline, hovering around the $114,000–$117,000 zone. Such a retest is often viewed as healthy, confirming the former resistance as new support.
CME Gap Near $114.2K Draws Market Attention
Another focal point is the CME gap around $114.2K. Market watchers often expect these gaps—created during off-market hours on futures exchanges—to get filled during normal trading sessions.
BTC’s current movement toward this level may serve as a short-term objective during the ongoing retest. BitBull noted that the price is “gravitating right toward that level,” suggesting the gap could be filled imminently.
If the gap fill coincides with a bounce from this zone, it may reinforce the support and signal the next upward leg.
Price Target Points Toward $160K
Using the height of the inverse head and shoulders pattern, the projected price target could stretch toward $160K. This is based on standard technical analysis metrics used to estimate breakout potential.
The market has not shown signs of weakness below the retest zone. Instead, it is maintaining stability, indicating confidence among long-position holders.
BTC’s behavior aligns with a classic continuation setup, with traders closely monitoring for confirmation of a rebound and further upside.
Bitcoin continues to demonstrate bullish trends and technical signals of support, attracting interest among traders. The success of the current breakout may indicate the possibility of reaching higher target levels.
