- The BTC price revealed itself from a descending wedge pattern which indicates upcoming market trend shift and aims at reaching $100K resistance levels.
- A solid floor of support exists at $75Kâ$78K since this area previously served as resistance during the 2024 rally.
- Inverse Synthetic Ratio and Moving Average Convergence Divergence signals suggest stability in the short-term market view but momentum indicators show signals of upcoming price growth.
Bitcoin (BTC) has seen a notable technical breakout, suggesting that recent bearish pressure may be easing. Bitcoin passed the $92,000 mark during its latest weekly trading close while overcoming the descending wedge pattern which limited price movements throughout multiple weeks.
Breakout Confirms Market Structure Shift
On the weekly timeframe Bitcoin achieved a breakout through its descending wedge formation which signals bullish momentum most of the time. The price increase received backing from the point where previous support ranges intersected at $75,000 to $78,000 following their resistance role during the 2024 rally.
Analysis based on price action shows an ascending trend that experts consider an early indicator that the current trend will continue and they suggest $100,000 as the main barrier to overcome.
BTC Indicators Flat as Traders Await Momentum Shift
These indicators depict the situation with greater detail over a short time period. The RSI indicator on the 4-hour timeframe maintains 56.56 values in the middle range which shows a balanced market state without positive or negative pressure. The third indicator level points to stable buyer-seller dynamics however rising over 60 would signal strengthening positive market movement.
Source:TradingView
The MACD histogram reveals falling bullish momentum during recent periods although its lines remain above one another. Short-term traders need to track momentum indicators since the weekly structure has a bullish tendency with potential signs of divergence or a reversal in the market.
BTC Uptrend Holds as Key Support Levels Back Breakout Momentum
The market shows resistance at $95,000 and $100,000 and support at $85,000 and the breakout point at $78,000 according to market observers. An additional test of the breakout area will provide extra evidence to validate trend momentum.
The upward trend of Bitcoin price became stronger after it broke out of its descending wedge formation and validated key support areas. The technical indicators indicate that Bitcoin price could keep moving upward but only under the condition that current support levels maintain stability and momentum grows stronger.
