- Bitcoin confirms breakout above multi-day downtrend line, with price validating $118,200 as key intraday support.
- Clean structure favors short-term bullish continuation if buyers defend the trendline and reclaim $120,000 zone.
- Retest affirms trend shift as buyers step in and sellers retreat; market eyes new highs above $122,150.
Bitcoin breakout patterns continue drawing attention as the asset breaches a multi-session downtrend, confirming support at $118,200. This structure marks a clear shift in short-term momentum, with traders now focusing on reclaiming higher resistance levels.
Bitcoin Clears Descending Trendline With Textbook Retest Pattern
Bitcoin has reclaimed market attention by executing a clear breakout and retest formation on the 1-hour chart. This move breaks a multi-session descending trendline that capped price since mid-July. The setup, presented by Crypto Seth on X, illustrates a textbook transition in intraday momentum.
The red trendline previously rejected several rallies during recent volatile sessions. Bitcoin’s breakout carried price above $119,000 and reached as high as $122,150. This upward momentum was followed by a return to the former resistance, now acting as short-term support.
Retest at $118,200 Validates Structural Shift in Short-Term Bias
Price reacted precisely along the retest zone near $118,200, now emerging as a key support area. The response confirms that sellers failed to reclaim control, while buyers defended the level with conviction. This behavior affirms the structural shift from bearish to bullish sentiment in the short term.
Crypto Seth described the setup as a clean execution aligned with the “Keep It Simple” principle. The breakout-retest sequence offers clear validation levels for traders seeking precise entries or exits. As long as price holds above the trendline, bullish continuation remains a favored outcome.
Market Eyes $120,000 as Short-Term Breakout Target
With the breakout confirmed, traders are now watching for a sustained move toward $120,000. This level serves as the next logical resistance and potential breakout zone into the July highs. Volume behavior will remain crucial in confirming further trend strength.
Bitcoin currently trades near $118,333, reflecting a 0.22% daily gain. Over the past seven days, price is down 0.29%, reflecting consolidation following recent movement. The $118,200 zone now serves as the key level for directional bias.
