Bitcoin is entering an early price discovery phase characterized by increased volatility and stronger confidence among short-term holders. The cryptocurrency is consolidating around a structural support level of $117,000, with expectations of a significant upward move. The next major profit threshold is anticipated between $140,000 and $150,000. The fractal volatility indicator nearing 20 suggests potential for a stronger upward trajectory, as short-term holders defend their cost basis more aggressively than in previous cycles, indicating a robust foundation for future growth.