Bitcoin Double Bottom Targets $110K Rally

• Bitcoin forms bullish double bottom, targets $110K
• Key resistance lies at $111K, with potential pullback zone at $104K
• Weekly close confirms strength in BTC momentum

Bitcoin is gaining bullish momentum following the formation of a double bottom pattern, a classic reversal signal in technical analysis. This formation typically suggests a shift from a downtrend to an uptrend, and in Bitcoin’s case, it’s pointing toward a potential move to $110,000.

The weekly candle closed strongly above key support levels, confirming the breakout. This renewed strength in the market has traders and analysts eyeing higher price targets, with the next significant resistance located near $111,000.

The double bottom pattern has formed over the past few weeks, suggesting that BTC has built a solid base around its recent lows. The pattern is now leading to increased buying pressure, propelling the price upward with renewed confidence.

$104K CME Gap Could Spark Brief Pullback

Despite the bullish setup, traders are watching the CME gap near $104,000, which remains unfilled. Historically, Bitcoin tends to “fill” these gaps—areas on the chart where price action was absent due to market closures.

While the general trend remains positive, a short-term dip to this level is possible as the market attempts to close this gap. Such a pullback, if it happens, may offer a solid re-entry point for those waiting to buy the dip.

Market Eyes Resistance at $111K

As Bitcoin approaches $110K, momentum remains strong, but resistance near $111,000 may act as a short-term barrier. A break above this level could accelerate the rally further, opening the door to new all-time highs.

Overall, the bullish double bottom pattern is a strong sign of market recovery and positive sentiment. With solid weekly support and growing institutional interest, Bitcoin seems poised for another leg up in its ongoing bull cycle.