Bitcoin (BTC) Price Prediction: Bitcoin Climbs Above $117K, Targets $120K Symmetrical Triangle Breakout
The post Bitcoin (BTC) Price Prediction: Bitcoin Climbs Above $117K, Targets $120K Symmetrical Triangle Breakout appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) has surged past $117K, capturing investor attention as it approaches a critical symmetrical triangle formation that could ignite a breakout toward $120K. This rebound comes amid a historically bullish period for Bitcoin—October, often called “Uptober”—when the cryptocurrency frequently posts strong gains. Market sentiment is further boosted by dollar weakness, institutional inflows, and growing accumulation, signaling a potentially decisive month ahead for BTC. Symmetrical Triangle Breakout Could Drive BTC Higher Technically, BTC is approaching the tip of a symmetrical triangle on its daily chart. Analysts note that closing three consecutive daily candlesticks between $118,000 and $120,000 would be a strong bullish signal. BTC targets $118K–$120K breakout, with the symmetrical triangle hinting at possible short-term volatility. Source: @egragcrypto via X Historically, symmetrical triangle breakouts have continued trends in roughly 75% of cases in similar markets, though this outcome is not guaranteed for Bitcoin specifically. Should BTC close above this range, it could potentially target a new all-time high near $128,000, guided by Fibonacci extensions and previous resistance levels. Uptober Boosts Bitcoin’s Bullish Momentum October has consistently been a strong month for BTC, with historical data showing average gains of nearly 23% when September closes in the green. This year, Bitcoin is living up to the trend, rebounding more than 2.8% to reclaim $117,000. BTC tests a key level as Buy/Sell Pressure Delta enters the “opportunity zone,” signaling a potential push toward $120,000. Source: @CryptoBusy via X Investors are drawing confidence from these seasonal patterns. After September’s strong finish, BTC is now positioned to test local resistance levels and potentially surpass recent highs. Analysts highlight that this combination of seasonal and macro factors is fueling bullish sentiment. Key Liquidity Clusters Shape BTC’s Next Moves BTC currently sits between two major liquidity clusters. The first cluster, at $107,000–$108,000, contains $8 billion in…
