BTC breakout frenzy: the uptrend has begun

With optimism slowly returning to the larger part of the cryptocurrency market, Bitcoin (BTC), as the industry representative and its largest asset, is no exception, having kicked off what looks to be its next major uptrend, setting the stage for a potential run at new all-time highs (ATHs).

Specifically, in his latest analysis, popular crypto trading expert Michaël van de Poppe emphasized that the breakout at $115,000 marks more than just a short-term bounce, but signals that the broader market structure has decisively shifted in favor of the bulls, per his X post on September 12.

As he explained:

“It’s very clear that the uptrend on Bitcoin has started. We’re looking at a big breakout towards an ATH in the coming period. Quite clearly, a good period to be buying the dips on assets.”

Indeed, the daily chart shows BTC reclaiming key levels after weeks of consolidation. Support has now been established around $114,750, with the next major resistance looming near $116,800. If momentum carries through this level, traders will be eyeing $119,500 and ultimately $123,000 as upside targets.

Volume has also picked up during the breakout, which is an important confirmation that buyers are stepping in with conviction rather than short-lived speculation. Historically, such breakouts backed by volume have led to sustained rallies.

What’s next for BTC after breakout?

Currently, Bitcoin is changing hands at the price of $115,385.24, demonstrating an increase of 0.9% in the last 24 hours and a 2.3% advance across the previous seven days, as the flagship decentralized finance (DeFi) asset moves to erase the 5.31% losses from its monthly chart.

All things considered, the broader setup is encouraging. The recent correction toward $103,000 – $105,000 offered what many traders considered a ‘last chance’ long entry before the market resumed its climb. With liquidity already cleared at the lows and confidence returning, the path of least resistance now appears higher.

Still, the market is never without risks. Should BTC fail to hold above $144,000, traders may interpret the move as a false breakout, leading to another retest of lower levels. But for now, both technicals and sentiment lean heavily toward continuation.