Bitcoin - Blue Skies, Retest Before $125k?

[lingriiddd]

Bitcoin has pushed into blue skies after breaking through a major resistance zone around 110,000 USD. The breakout was sharp and impulsive, pushing price well into uncharted territory above 117,000. At these levels, traditional resistance becomes harder to pinpoint, and the market often behaves irrationally, so caution is warranted. With all-time highs being challenged, any small retracement must be handled with precision.

Support and Retest Zones
The previous resistance zone between 109,000 and 111,000 has now turned into a potential support area. This level acted as a ceiling for weeks and was finally broken with strong momentum. Price already had a minor retest on the breakout candle, which offers a bullish sign of acceptance. However, a deeper retest of this same zone remains a valid possibility, especially if short-term profit-taking intensifies.

Trendline Confluence
Alongside the horizontal support, we have an ascending trendline that has guided price from the June lows. This trendline now intersects with the 111,000–113,000 area, offering a secondary potential bounce level. If Bitcoin holds the trendline, a shallower correction could be enough to reset before another rally. But if we break below it, the horizontal support remains the final stronghold before deeper downside risks emerge.

Short-Term Scenarios
There are two likely short-term paths here. Either Bitcoin continues higher without a deep pullback, targeting 120,000–125,000 directly, or we see one more sweep into the 111,000 area before the trend resumes. The first scenario would trap sidelined traders, forcing late entries at higher levels. The second would provide a clean retest of structure, fueling a healthier, more sustainable breakout.

Price Target and Expectations
Assuming the retest scenario plays out cleanly and price confirms support at either the trendline or the former resistance zone, upside targets sit around 120,000 as the next psychological barrier, with 125,000 as a likely extension. These are natural magnet levels in a trending environment, especially with momentum still intact from the previous breakout.

Conclusion
Bitcoin is currently in price discovery, which means the structure must guide our expectations. A retest of either the trendline or former resistance could provide the next best entry. As long as we hold above the green support zone, the bullish structure remains intact, and higher targets remain in sight.
#BTC #USDT #crypto #cryptocurrency #coin

[EmTeam]

Fantastic breakdown. The point about price discovery really resonates—things get unpredictable when all-time highs are in play. I appreciate how you highlighted both scenarios: continuation vs. retest. Watching the 111K area closely.

[alex65]

Excellent analysis. The confluence of the ascending trendline and the former resistance turning into support is a strong technical signal. It’s great to see such a clear plan for both possible outcomes

[Blobby]

Really solid chart work here. Love how you mapped out the potential retest zones and upside targets. Makes it much easier to plan entries in this kind of environment. Thanks for sharing!

[Nahiar806]

If BTC holds that, I wouldn’t be surprised to see 125K tagged quickly.

[alex]

This is where emotions mess people up. Price discovery means no historical ceiling to lean on — just market psychology and structure. Love how you framed it with precision

[Maxwell]

@alex Feels like a classic 'buy the dip or chase the breakout' moment. I’d rather wait for that deeper retest into the support zone and go in with size if it holds

[Maxwell]

Feels like a classic 'buy the dip or chase the breakout' moment. I’d rather wait for that deeper retest into the support zone and go in with size if it holds

[Maxwell]

We’re in that phase where every wick can shake out weak hands. Holding above 119k with volume = launchpad to 130K, in my opinion

[Nahid10]

Price targets:

Immediate support at $58K (previous resistance flip
$125K remains viable if we hold above $60K this month
Miner capitulation not yet visible (hash rate stable
The real test comes at $70K - a clean break could trigger the next parabolic move.

[jacson4]

Bullish Technical Perspective
"The current retest aligns perfectly with historical Bitcoin halving cycles. Key indicators suggest this is healthy consolidation before the next leg up:
• Bull flag formation on weekly chart
• RSI cooling from overbought territory
• Stable volume profile despite pullback

Price targets:

Immediate support at $58K (previous resistance flip)

$125K remains viable if we hold above $60K this month

Miner capitulation not yet visible (hash rate stable)

The real test comes at $70K - a clean break could trigger the next parabolic move. #BTCAscending"

Cautionary Macro View
While the $125K narrative is tempting, several risks loom:
Fed rate uncertainty through Q3
Mt. Gox distributions beginning July
Spot ETF inflows slowing
Concerning patterns:
Futures open interest overheating
Retail leverage rising again
Bullish sentiment at 2021 peaks

[Maxwell]

The bull flag on the weekly is textbook, but what really stands out is the stable volume profile. It shows this isn’t panic — it’s preparation. This kind of sideways structure, paired with cooling RSI, often precedes explosive moves.

[alex]

I agree the $125K target is still on the table, but I’m watching ETF inflows closely. If those flatten or reverse while Mt. Gox distributions ramp up, we could see a temporary supply shock that forces a deeper retest before continuation. Risk is rising as sentiment gets overheated

[Nahiar806]

Love how this breakdown balances both sides — too many ignore macro when charts look bullish. Fed policy remains the biggest wildcard here. If rates stay higher for longer and dollar strength continues, it could cap BTC’s upside in the short term, even with great on-chain support

[Maxwell]

SOL’s structure looks cleaner than most L1s right now. If it holds above the 50 and 200-day moving averages, this could turn into a textbook trend reversal setup