Bitcoin’s Familiar Setup Reappears as Price Holds Above $100,000, Here’s Why $165,000+ Remains in...

Bitcoin’s consolidation mirrors past patterns, signaling potential continuation toward the $165,000 zone.

Technical charts show strong support near $100,000, maintaining the broader bullish market structure.

Rising exchange reserves and steady momentum indicate renewed trader activity despite market volatility.

Bitcoin continues to maintain a stable trading pattern after recently reaching another key technical level near $116,652. Analysts note that the cryptocurrency is mirroring a familiar price pattern that once resulted in a sharp upward breakout. The market behavior is showing a period of consolidation like in previous structures that have led to huge price runs towards new record levels.

Market Consolidation Reflects Familiar Structure

Bitcoin’s latest move closely resembles its behavior after reaching the $67,559 technical target. Following that milestone, the price consolidated heavily before bottoming and advancing toward $116,652. Javon Marks noted, “Prices can be consolidating and strengthening here for yet another surge higher, this time towards $165,745.”

The chart data confirms that Bitcoin is currently trading between $95,000 and $115,000 while forming a descending channel pattern. This range-bound movement is consistent with the market’s earlier consolidation before previous rallies. Historical data shows that such structures often serve as preparation zones before new impulsive waves emerge

Source: CoinMarketCap

Bitcoin’s price is stabilizing above key support near $100,000, maintaining its long-term bullish technical outlook. Market statistics from CoinMarketCap report that Bitcoin traded at $101,248.43, down 2.94% in 24 hours. The market capitalization stood at $2.01 trillion, while trading volume rose 42.9% to $114.06 billion, indicating continued participation from traders. The volume to market capitalization ratio stood at 5.74% and was very active although the trend in the short term was declining.

Technical Projections and Broader Economic Context

According to analysis prepared by Gert Van Lagen, Bitcoin remains supported by the 40-week simple moving average, aligning with bull market conditions. The Elliott Wave pattern on his chart shows five impulsive waves forming higher highs, suggesting the continuation of an extended upward phase

Source: GertVanLagen(X)

Van Lagen identified an upper target near $360,000, with a “sell line” drawn above projected resistance levels. In the meantime, more extensive economic stress is being experienced with the ongoing U.S. government shutdown now in its second month, which impacts liquidity and investor sentiment.

CryptoQuant data shows Bitcoin exchange reserves rising for the first time in six weeks, signaling repositioning by traders. Analysts believe that the present setup favors another surge, regardless of volatility keeping the $165,000+ target squarely in play for Bitcoin.

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