- The $84,000 multi-week descending trendline marked a milestone when Bitcoin managed to surpass it indicating a positive shift in market trends.
- Since bullish momentum remains strong the current measured move predicts a price increase of approximately 15% to reach the $97,000–$99,000 zone.
- Two important support points exist between $83,800 and $84,000 while the main resistance ranges from $86,500 up to $90,000.
Bitcoin has broken above a key descending trendline on the 8-hour chart, marking a significant technical shift after several weeks of downward price action. After Bitcoin consolidated by forming higher lows it began to press against downward resistance during this period of development. The price broke through the target point around $84,000 during rising market demand.
Price maintained a well-established bearish trendline across the period from late January until mid-April within the 8-hour timeframe. This resistance level received respect from price actions as it functioned as a dynamic mark multiple times. This line breakout becomes validated when the latest candle closes above it allowing potential price advancements if buyers step in to confirm the trend.
Bitcoin Eyes 15% Surge as Breakout Pattern Targets $97K–$99K
The chart indicates a bullish measured motion that can potentially generate a 13,086-point increase starting from the breakout area. Forecast models indicate Bitcoin could rise to a possible range between $97,000 to $99,000 thus showing an expected 15.42% price increase.
The market showed minor price reduction to $84,392.19 for a 0.6% daily decline yet continued to support an upward trend. The 24-hour high of $86,186.23 and low of $84,460.03 show price compression near a critical level, often a precursor to larger moves.
Bitcoin Battles Key Support as Bulls Eye $90K Breakout
The existing Bitcoin price rests close to essential support at $83,800 – $84,000 where it intersects a crucial uptrending line which served as a launch stage for previous positive trends.
The first resistance barrier exists at approximately $86,500. Breaking through this level decisively would trigger a fast movement toward the next significant resistance group spanning from $90,000 to $95,000. The price may aim to reach levels between $98,000 and $99,000 in case bullish momentum maintains itself after exceeding $86,500.
People investing and trading will track BTC price movements to see if it maintains above the breakout level as it fights for a climb to $90,000 within the next few days.
