- Bitcoin surged into the $92K–$95K range after breaking out from a falling wedge, signaling a strong bullish reversal pattern.
- BTC faces resistance but remains bullish with potential upside targets at $99.5K and $109K if momentum continues to build.
- Support at $88K and $85K may cushion any pullback as Bitcoin trades above key levels and reclaims ground lost during Q1’s downtrend.
Bitcoin has surged into the $92K–$95K range, reaching a key technical level just one day after the previous update. Bitcoin is currently trading at $93,219.60, down 0.24% from the previous session. The general tendency is still very bullish. The price behavior as of right now points to a potential short-term decline. Bitcoin now faces immediate resistance within this range. If momentum holds, the next upside targets are $99.5K and eventually the all-time high zone.
Breakout Confirms Falling Wedge Reversal
Since January 2025, Bitcoin has followed a consistent downtrend marked by lower highs and lower lows. The decline intensified in late February, when BTC plunged from $95K to $85K rapidly. Selling pressure persisted through March, pushing prices down to a cycle low of $76,552.07.
However, April brought a shift in momentum. Bitcoin established a solid base around $85K before reversing sharply upward. A break above the downward trendline indicated a positive turnaround. The downward trend had been restrained by this trendline since January.The breakout confirms a falling wedge pattern, typically considered a bullish reversal setup.
Moreover, BTC has now cleared key resistance levels at $92,921.07 and $94,963.38. This surge broke through the upper boundary of the descending channel. Additionally, the price now trades above a major moving average, which may support further upside.
Resistance Ahead but Trend Remains Bullish
Bitcoin’s rapid rise has driven it near strong resistance in the area of $92K to $95K. While there could be a correction in the short term, the trend remains upwards. A green arrow points toward the direction of the $106K area, suggesting bullishness continues.
Key support levels include $88,556.85 and $85,209.49. These levels could cushion any downside correction. If bullish momentum continues, the next upside target is $99,471.41. Beyond that, Bitcoin may retest previous highs near $109K.
