Currently, Bitcoin is navigating a multi-year symmetrical triangle, having faced significant resistance at $69,000 in November 2021.

In recent months, Bitcoin has attempted to retest its all-time highs of $109,354 and $111,965 in January and May 2025, respectively.

Historically, Bitcoin has shown a correlation with gold, with both assets rallying alternately, leading analysts to theorize that Bitcoin may be poised for a breakout.

Gold recently broke out from a multi-year triangle pattern in April 2024 after enduring 12 years of resistance, rising from $2,086 to its current price of $3,368.

Following gold's trajectory, Bitcoin could potentially experience a similar breakout, with analysts suggesting it may rally by 61% if it breaks its resistance.

If Bitcoin follows this pattern and successfully breaks through, it could reach a new all-time high of $181,000, while it currently trades at $103,762, indicating it is about 74% away from that target.

It's important to note that the content discussed is for informational purposes only and should not be construed as financial advice.