The hourly chart reveals a strong bullish formation, with the digital asset consolidating for several days in a tight range between $110,000 and $113,000 before vaulting upward in a dramatic green candle. Volume kicked up notably in tandem with the price move, signaling strong conviction behind the rally. Earlier in the day, the market saw a similar burst around $108,500 followed by sideways movement—this time, however, the bulls pushed much harder.

The breakout above $114,000 acted as a springboard for the final leap past $117,000, catching many off guard. Traders watching this hourly chart will note that today’s move wasn’t gradual—it was sudden, explosive, and steep, reminiscent of bitcoin’s parabolic runs in previous bull markets. With momentum this fierce, many are now watching the $120,000 level as the next psychological battleground. At press time BTC is trading for $116,333 per coin.

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