Bitcoin Nears $108K Breakout as Price Spike Meets Bullish Crossover Signals

• Bitcoin forms an ascending triangle near $108K as bulls defend $106K support, setting the stage for a potential breakout.
• A push above $108,234 with strong volume could ignite a move to $110K, while trendline failure risks a slide toward $100,660.
• Weekly Ichimoku signals hint at a Golden Cross by June, echoing the bullish momentum seen after the late 2023 breakout.

Bitcoin is consolidating just below key resistance at $108,234 while maintaining a bullish trendline structure. Market observers are closely watching whether momentum can lift BTC above this critical level.

BTC Builds Ascending Triangle Above $106K Support

Bitcoin continues forming higher lows on the 30-minute chart while pressing against a flat horizontal barrier. This ascending triangle setup remains valid as long as the price holds above $106,000 support. Traders now await confirmation of direction as compression tightens.

Analysts on X noted Bitcoin’s structure after tagging a new all-time high above $108K this week. Support levels remain clearly defined at $106,000, with deeper zones marked near $100,660, $98,000, and $96,981. Each level previously acted as a rebound zone during earlier consolidation.

Short-term resistance sits at $108,234.40, where BTC recently printed a rejection candle. According to market experts, a decisive push through this zone with volume may open the door to $110,000. Until then, the pattern reflects tight accumulation, with price respecting an ascending base.

Market watchers also pointed to the tightening space between the rising trendline and horizontal resistance. A failure to hold the trendline could shift focus toward $100,660 and below, reactivating the lower support stack.

Weekly Chart Signals Golden Cross Momentum Shift

A separate analysis using the Ichimoku Cloud system highlights strengthening bullish signals on Bitcoin’s weekly chart. Tenkan-sen and Kijun-sen are converging again, hinting at a Golden Cross formation by June. Candles remain above the cloud and both indicators.

Market analysts say the last Golden Cross in late 2023 led to a sharp rally, supported by a break above the cloud structure . Current projections suggest cloud support may range from $84,000 to $92,000 in the coming months. BTC price has reclaimed trend strength after a March correction below both lines.

Additionally, the Ichimoku cloud is now thickening ahead, providing a broader support zone beneath current levels. Analysts see this structure as evidence of strength returning across the higher timeframe.

Could Breakout Confirm or Rejection Reshape Trend?

As BTC coils beneath resistance , market experts are gauging the weight of volume behind any directional move. Will a sustained push above $108,234 trigger a breakout, or will weakening momentum cause a trendline break?

Market observers now focus on whether short-term structure aligns with longer-term signals. The next sessions will test the strength of this technical buildup.