The post Bitcoin’s Falling Wedge Signals $106K for Move to $120k appeared on BitcoinEthereumNews.com.

Key Insights: Bitcoin shows signs of a breakout above $106K, targeting $120K+. Bitcoin ETFs saw $523.98M inflows, but declining open interest points to potential profit-taking. Open interest drop points to capital rotation, raising concerns over short-term selling pressure. Bitcoin’s Falling Wedge Signals Breakout Above $106K for Potential Move to $120K+ Bitcoin (BTC) price movement has recently been showing signs of a potential breakout. As the cryptocurrency consolidates inside a falling wedge pattern on the daily chart, many analysts are watching for a breakout that could lead to a sharp upward move.  Bitcoin’s Falling Wedge Formation Bitcoin’s current price action is respecting the structure of the falling wedge, which has formed over a period of time. A falling wedge is generally considered a bullish pattern, suggesting that the price may break higher after the consolidation phase.  Bitcoin price has repeatedly tested the upper boundary of this wedge, confirming the potential for a breakout. This pattern has created compression, as the price moves within a narrowing range.  BTC Potential Breakout | Source: X Traders are closely monitoring the situation, anticipating that a breakout above the $106K may spark further buying, potentially pushing Bitcoin toward $120K or beyond. As of the time press time, Bitcoin’s price is hovering around $104,613, down by 0.32% in the last 24 hours. ETF Inflows and Declining Open Interest Meanwhile, Bitcoin ETF inflows have been another area of focus for investors. Recent data shows that Bitcoin ETFs saw inflows of $523.98 million on a single day. This suggests continued interest in Bitcoin from institutional investors. Despite strong ETF inflows, Bitcoin’s price has struggled to maintain upward momentum.  However, Bitcoin Open interest has dropped sharply, with the figure now standing at around $32.4 billion. This is the lowest level since May 2025, signaling a reduction in long positions. The…

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Filed under: News - @ November 12, 2025 3:34 pm