Bitcoin (BTC) Price Prediction: Momentum Builds as Price Tests $117,500 Breakout Zone

Bitcoin is currently trading around the $118,500 mark and is looking quite bullish in the immediate short term. As predicted in our previous analysis, the price bounced from the $112,000–$113,000 region and retested the strong resistance at $117,500 with solid momentum. Right now, if we look at the lower timeframes, we can see that the price has already broken above this critical resistance level, which is a nice bullish sign for Bitcoin. Let's take a quick look at the latest Bitcoin charts to see where the price could be headed in the coming days.

Our Bitcoin Price Prediction Summary

• Bitcoin is attempting to reclaim the $117,500 level after bouncing from the $112K–$113K zone.
• The developing double-bottom and intact rising channel keep the bullish structure in play.
• A sustained move above $120,000 is the next test before any attempt at new all-time highs.

Analyzing the Bitcoin Charts

Short-Term Momentum on the 4H Chart

Looking at the latest 4-hour charts for Bitcoin, the price bounced cleanly from the $112,000–$113,000 support region after reclaiming it following the recent sell-off. That move helped BTC break above the $115,000 resistance with strong momentum. Since then, it has been closing candles above the critical $117,500 resistance area on this timeframe, which adds to the bullish outlook. If this momentum continues, the bulls will likely start eyeing the $120,000 level again in the coming days.

Double-Bottom Setup on the Daily

On the 1-day timeframe, the outlook is similar. The price is forming a new candle above $117,500 here as well, which is a solid sign for BTC. If this level breaks, it could also confirm the double-bottom pattern that has been developing. A double bottom is a statistically bullish pattern that shows the price has rebounded from the same area with strength and is likely to break above resistance. This is what we are seeing here as the price bounced just above the previous lows again, forming this double bottom and confirming a slightly higher low, which signals a potential trend shift. If Bitcoin breaks out from here, it will likely challenge its all-time high near $124,000 in the coming weeks.

Channel Structure Supporting Upside

Furthermore, we can see that the price is still respecting the rising channel it has been moving within since it reclaimed the $100,000 mark in May. The ceiling of this channel has not been retested in a while, and if Bitcoin sustains momentum here and flips $117,500 into support, we can finally expect that move, with bulls trying to take Bitcoin into new all-time high territory. That is why our current Bitcoin price prediction is leaning bullish. However, it is important to note that BTC could still face strong resistance above the $120,000 zone even after a breakout, and the bulls will need to push further or flip $120,000 into support before reclaiming new highs.

Final Takeaway: What is Next for Bitcoin?

Bitcoin is showing strong signs of continuation after reclaiming key support levels and breaking above critical resistance zones on both the 4-hour and 1-day charts. The momentum above $117,500, the developing double-bottom pattern, and the ongoing respect of the rising channel all point to further upside if buyers hold control. If Bitcoin continues to close above this level and flips it into support, a push toward $120,000 and eventually the all-time high near $124,000 becomes likely. The indicators suggest the trend is still in favor of the bulls, but the price will need to clear the $120,000 area with conviction before any major breakout can take shape. For now, the outlook remains bullish as long as momentum holds and support levels stay intact.