Bitcoin (BTC) is signaling renewed bullish potential after forming a classic Double Bottom pattern, a structure that often precedes a strong trend reversal.

Market analysts suggest the ongoing consolidation could set the stage for Bitcoin’s next breakout phase toward the $150,000 mark—provided key resistance levels give way.

Bitcoin Forms Higher Low as Double Bottom Takes Shape

Crypto trader Trader Tardigrade (@TATrader_Alan) highlighted Bitcoin’s ongoing formation of a higher low on the 4-hour chart, suggesting the second trough of a Double Bottom pattern is in play. The bullish setup, resembling a “W” shape, could confirm an upward reversal if Bitcoin decisively closes above the neckline near $116,000. “#Bitcoin is forming a higher low for the second bottom of a Double Bottom pattern,”—Trader Tardigrade (@TATrader_Alan)

Bitcoin forms a higher low, shaping the second bottom of a bullish Double Bottom pattern. Source: @TATrader_Alan via X

Recent price action shows BTC stabilizing between $109,000 and $123,000, with multiple touches of lower support forming the structure’s foundation. A confirmed breakout above resistance could open a path toward the $125,000–$150,000 range, aligning with the broader bullish channel visible on longer-term charts.

Long-Term Channel Suggests Ongoing Bullish Structure

On the monthly timeframe, Tardigrade also noted that Bitcoin remains within its long-term ascending channel that began in 2015. Historical rebounds from the channel’s lower boundary have typically preceded major cycle rallies—including the recoveries in 2018–2019 and 2022–2023.

Bitcoin holds steady within its channel, targeting a potential surge toward $150K. Source: @TATrader_Alan via X

The trader’s chart highlights a fresh rebound from channel support, suggesting the pattern remains structurally intact. “#Bitcoin remains within its channel, anticipating the next surge,” he wrote.

A similar dynamic occurred before Bitcoin’s previous all-time highs, reinforcing expectations that the current cycle could extend further—possibly leading to a new Bitcoin all-time high above the $150,000 threshold.

MVRV Pricing Bands Indicate Near-Term Caution

Meanwhile, market analyst Ali (@ali_charts) pointed to on-chain data from Glassnode, noting that Bitcoin must reclaim $119,000 to maintain bullish momentum. According to the MVRV Extreme Deviation Pricing Bands, BTC’s current position below the +0.5σ level signals a possible cooling phase. “Bitcoin must reclaim $119,000 to keep bullish momentum alive! Otherwise, the pricing bands signal a correction toward $96,530,” Ali warned.

Bitcoin must reclaim $119,000 to sustain bullish momentum, or a correction toward $96,530 may follow. Source: @ali_charts via X

Historically, similar rejections during bullish phases—such as in mid-2021—preceded short-term corrections of up to 30%. A deeper pullback could test the mean band support near $93,000–$95,000, an area now reinforced by multiple moving averages and short-term holder cost bases.

Despite this caution, on-chain data indicates no panic-driven liquidations or signs of major distribution. The Bitcoin market cap remains stable above $2.2 trillion, and institutional sentiment remains cautiously optimistic amid steady BTC ETF inflows.

Institutional Catalysts and ETF Momentum

Institutional dynamics continue to play a critical role in Bitcoin’s long-term outlook. Flows into spot Bitcoin ETFs, including those managed by BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin ETF (FBTC), have shown resilience despite recent market volatility.

Consistent ETF inflows have offset short-term sell pressure, suggesting that institutional participants remain positioned for upside continuation. Analysts note that these vehicles are gradually shaping Bitcoin’s liquidity structure, reducing volatility while deepening market depth across major exchanges.

Market Outlook: Between Patience and Potential

Despite short-term volatility, the broader Bitcoin forecast remains bullish, supported by resilient fundamentals and growing institutional involvement. As BTC price today hovers near $112,470, analysts say the ongoing structure mirrors previous mid-cycle consolidations that often precede parabolic advances.

Bitcoin (BTC) was trading at around $112,470, up 0.37% in the last 24 hours at press time. Source: Bitcoin Price via Brave New Coin

For traders and investors, the current phase demands a balance between caution and conviction. As Trader Tardigrade summarized, it’s a moment “for traders to choose between fear and opportunism.”

If Bitcoin confirms its double-bottom breakout and maintains channel support, the next leg toward $150K could mark a defining moment in the ongoing Bitcoin bull market cycle.