Bitcoin Price Analysis: is BTC About to Explode to $130K This Week?

Bitcoin has extended its rally after a clean breakout from the descending channel, reclaiming primary structural levels and driving toward the $122K–$124K all-time ￰0￱ momentum remains strongly bullish, the market is still exposed to a brief pullback toward $114K–$118K to rebalance before any potential continuation toward new ￰1￱ Analysis By Shayan The Daily Chart Bitcoin has continued its upward expansion, breaking through the mid-range resistance and invalidating the prior descending structure that defined September’s price ￰2￱ breakout was followed by a rapid move into the upper boundary of the macro range, likely targeting the buy-side liquidity just above the all-time high around $124K.

The price is now holding above the breakout level around $116K–$118K, with the previous decision point at $112K–$114K serving as key support in case of a ￰3￱ above this zone maintains the bullish structure, keeping the $124K–$125K region, where the next liquidity pool sits, as the primary upside ￰4￱ indicators, however, suggest the potential for a short-term corrective move before continuation, allowing the market to build a healthier base for another impulsive leg higher.