Bitcoin (BTC) is potentially setting up for a significant rally, with a classic bullish falling wedge pattern forming on the charts. After reaching a record high of $126,000 on October 8, Bitcoin's price has retraced to lows near $106,000. The wedge pattern indicates a possible reversal, with a breakout above the $106,000-$107,000 range potentially confirming the bullish trend and paving the way for a move back toward $126,000 and higher. Conversely, a drop below the $100,000 support could lead to further declines.