Bitcoin just pulled a textbook falling wedge breakout on the 4H chart, tagged $111K, and cleanly retested around $108K—now coiling in a tight range as 24h volume jumps over 60%. With price hovering near $108,421 and liquidity building, the next push could decide whether bulls unlock a measured move toward $114.5K–$115K or hand momentum back to sellers hovering at the highs.

What Just Happened on the 4H Chart

BTC broke out of a descending wedge that formed since early October, rallied to ~$111K, then retested the wedge top near ~$108K—so far holding. Price is consolidating between ~$107K and ~$111K, with a failed HVN breakout sending price back to support. A CME gap was closed, and a short-term bounce followed. Market cap sits near $2.16T, with 24h volume around $104.8B—evidence of active participation and deeper liquidity.

Why This Matters for Traders

Falling wedge breakouts often resolve higher after a successful retest. Holding above $107K–$108K keeps the bullish structure intact and favors continuation into $114.5K–$115K. Rising volume during consolidation supports the idea of accumulation rather than distribution—so long as support does not break on a 4H closing basis.

Key Levels and Invalidation

• $115,000: Primary resistance and measured move target zone
• $111,000: Near-term gate; 4H close above often accelerates momentum
• $108,000: Retest line (former wedge resistance turned support)
• $107,000: Critical short-term support and invalidation pivot
• $104,000: Secondary support; prior rebound zone if 107K fails

A Simple, Actionable Trade Plan

• Bullish continuation: Consider entries on 4H closes holding $108K with increasing volume; first take-profit near $111K, runners toward $114.5K–$115K.
• Risk control: Place stops below $107K (or wick-adjusted), and trail once price clears $111K.
• Bearish contingency: If 4H closes below $107K, stand aside or look for a move toward $104K before reassessing.

Risks to Respect Right Now

• Fakeouts at resistance: Rejections near $111K–$115K can be sharp amid elevated liquidity.
• Weekend/CME dynamics: Gap behavior can distort short-term signals; avoid overleveraging into illiquid hours.
• Volume quality: A rally on declining volume weakens the breakout thesis.

Bottom Line

As long as $107K–$108K holds on 4H closes, the path of least resistance favors a measured push toward $114.5K–$115K. Watch for a strong 4H reclaim and hold above $111K to confirm momentum—and keep invalidation tight if support gives way.

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