- Bitcoin recently broke through a $95,800 resistance zone, now testing it as support, signaling a potential bullish continuation.
- A strong retest of $95,800 could trigger BTC’s rally toward $98,000, with bullish momentum possibly accelerating from here.
- CryptoQuant’s Bull Score Index at 80 indicates strong buy signals, aligning with the positive market outlook for Bitcoin.
Bitcoin is retesting an important support area after having broken out from an important ascending triangle formation in the 4-hourly chart.
Bitcoin Breaks Out from Ascending Triangle
Satoshi Flipper posted a detailed analysis on the 4-hour Heikin Ashi chart for BTC/USDT on Binance. The chart shows an ascending triangle with higher lows and horizontal resistance between $95,800 and $96,000. This bullish structure often precedes upward continuation.
According to the tweet, Bitcoin broke above this resistance zone with strong bullish candles. The breakout reflects growing buying interest and a possible change in market sentiment. After the breakout, the price pulled back, now retesting the former resistance zone as support.
The support zone is further strengthened by the confluence of the ascending trendline and previous resistance. This alignment gives bulls a strong technical area to defend.
Retest in Progress as Bulls Hold Ground
The yellow-circled area on the chart marks the current retest zone. Such a retest after a breakout is common in continuation patterns. It confirms if the breakout is backed by real demand.
If the support around $95,800 holds, Bitcoin may resume its upward path toward $98,000 and above. This scenario is supported by the dashed green arrow in the chart. On the contrary, if the level fails, BTC could revisit the lower trendline near $95,000.
The trendline support, if tested again, may become a deciding factor for short-term price action. Market participants are closely watching this zone for validation of the breakout.
CryptoQuant’s Bull Score Adds Confidence
The Moon Show shared an update citing CryptoQuant’s Bull Score Index, now standing at 80. This is the highest reading since January 30. The index measures overall bullish behavior in the market based on various metrics.
A high Bull Score often aligns with strong buying pressure. This metric adds weight to the current technical setup, suggesting market participants remain confident. Momentum and volume will play a crucial role in confirming the continuation from this level.
Bitcoin’s next move depends on this key support and trader reactions in the coming sessions.
