Bitcoin Forms Wyckoff Structure Amid $2.46B MicroStrategy Purchase

• Bitcoin consolidates inside symmetrical triangle, signaling breakout or breakdown ahead.
• MicroStrategy’s latest $2.46B BTC buy boosts institutional investor confidence.
• Wyckoff reaccumulation suggests bullish continuation, with targets above $126,000.

Bitcoin is consolidating within a tight range, with traders eyeing a potential breakout. Technical analyst CredibleCrypto recently shared a chart analysis on Twitter, identifying Bitcoin in the middle of a Wyckoff reaccumulation pattern. 

He compared the current BTC price structure with conventional Wyckoff schematics, noting similarities in the consolidation phase. The chart highlighted areas labeled as Preliminary Support (PSY), Automatic Rally (AR), and the “Jump Across the Creek.”

He marked the ongoing range with green squiggles, indicating low volatility and accumulation by strong hands. According to his prior tweet, a similar pattern preceded a strong price surge. 

If the same trajectory plays out, he projected a breakout with possible targets above $11,000 from the current consolidation zone. The analysis combines chart structure and market psychology to support the bullish scenario.

MicroStrategy Adds Over $2 Billion in Bitcoin Holdings

Michael Saylor, Chairman of MicroStrategy, announced a large Bitcoin purchase through the company. The firm acquired 21,021 BTC for approximately $2.46 billion at an average price of $117,256 per bitcoin. The transaction was disclosed publicly and aligns with the company’s ongoing BTC accumulation strategy.

As of July 29, 2025, MicroStrategy holds 628,791 BTC, acquired at a total cost of around $46.08 billion. The average purchase price stands at $73,277 per BTC. Year-to-date, the company has achieved a Bitcoin yield of 25.0% in 2025. 

Following the acquisition, Saylor posted “Digital Energy” on social media. Although he did not mention the purchase directly, the timing of the post reinforced MicroStrategy’s continued belief in Bitcoin’s long-term utility.

Symmetrical Triangle Shows Market Indecision

On the technical front, Bitcoin is trading near $117,800, consolidating within a symmetrical triangle on the daily chart. The pattern emerged after Bitcoin broke out of a descending trendline, which now acts as support. The chart structure consists of higher lows and lower highs, reflecting reduced volatility and growing indecision.

A breakout from the triangle could push the price toward the $126,000 resistance area. On the downside, failure to hold the pattern may result in a drop toward the $100,873 support zone. 

Bitcoin’s current positioning aligns with both technical patterns and institutional confidence, as suggested by the Wyckoff structure and MicroStrategy’s aggressive buying strategy.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.