Bitcoin Reaches $108,000: Price Action Shows Controlled, Structural Uptrend

A close look at recent price action reveals that this move isn’t a random spike—it’s part of a well-structured and sustained bullish pattern.

How Bitcoin Reached $108,000: A Price Action Breakdown

Looking at theBTC/USD chart, Bitcoin’s ascent to $108K can be traced through several technical phases:

1. Recovery From $75K

Around 40 days ago, Bitcoin bottomed out near $75,000, a level that marked the end of a steep corrective phase. This zone acted as a strong demand area, with aggressive buying pushing prices back above $90K within days.

2. Establishing Higher Lows

Throughout late April and early May, Bitcoin began forming a clear series of higher lows and higher highs, a classic indicator of a bullish trend. The market respected short-term support zones around $95K and $100K, indicating strong buyer control.

READ MORE:

Bernstein Predicts $330 Billion Corporate Bitcoin Allocation in Next 5 Years

3. Breakout From Consolidation

Over the past two weeks, BTC consolidated between $102K and $106K, forming a tight range. This range-bound action typically precedes a breakout. On May 20–21, price broke above the range resistance and surged toward $108,000, signaling renewed strength.

4. Healthy Volume Profile

Volume analysis shows balanced participation during the consolidation, followed by an uptick during the breakout—confirming genuine buying interest, not speculative noise.

The post Bitcoin Reaches $108,000: Price Action Shows Controlled, Structural Uptrend appeared first on Coindoo.