🧠 Chart Breakdown – BTC/USD (Daily)
📉 Pattern: Falling Wedge
BTC has been moving within a falling wedge, a bullish reversal pattern.
The wedge is now broken to the upside, signaling a potential trend reversal or continuation of the larger uptrend.
📈 Breakout Confirmation
Price broke above the wedge and closed strong, suggesting buying momentum is returning.
Breakouts from falling wedges typically aim for a measured move equal to the height of the wedge — potentially sending BTC higher.
🟦 Support Zones
$77,936 – Previously a strong support/resistance flip zone.
$74,402 – A key structural level. Price tested and bounced here before breakout.
Both zones acted as a springboard for the recent bullish move.
🟪 Resistance Zones
$95,000 – A prior top before the correction began. Likely to act as resistance again.
$105,000 – Final major resistance before potential new all-time highs.
📊 Volume
Noticeable spike in volume during breakout – confirms strong bullish interest and validates the wedge breakout.
📉 RSI (Relative Strength Index)
RSI is at 53.81, climbing steadily, and crossing above the moving average.
Indicates increasing bullish momentum, but not yet overbought — still room to grow.
✅ Conclusion / Trade Idea
BTC has broken out of a falling wedge, with momentum building.
Bullish targets:
$95,000 first
$105,000 next
Invalidation zone: Below $74,000, where the breakout would be considered failed.
🔔 Final Thoughts
This chart signals a bullish continuation for BTC as long as price holds above the wedge and support zones. Ideal for position trades or swing entries, especially on retests of breakout levels.
📉 Pattern: Falling Wedge
BTC has been moving within a falling wedge, a bullish reversal pattern.
The wedge is now broken to the upside, signaling a potential trend reversal or continuation of the larger uptrend.
📈 Breakout Confirmation
Price broke above the wedge and closed strong, suggesting buying momentum is returning.
Breakouts from falling wedges typically aim for a measured move equal to the height of the wedge — potentially sending BTC higher.
🟦 Support Zones
$77,936 – Previously a strong support/resistance flip zone.
$74,402 – A key structural level. Price tested and bounced here before breakout.
Both zones acted as a springboard for the recent bullish move.
🟪 Resistance Zones
$95,000 – A prior top before the correction began. Likely to act as resistance again.
$105,000 – Final major resistance before potential new all-time highs.
📊 Volume
Noticeable spike in volume during breakout – confirms strong bullish interest and validates the wedge breakout.
📉 RSI (Relative Strength Index)
RSI is at 53.81, climbing steadily, and crossing above the moving average.
Indicates increasing bullish momentum, but not yet overbought — still room to grow.
✅ Conclusion / Trade Idea
BTC has broken out of a falling wedge, with momentum building.
Bullish targets:
$95,000 first
$105,000 next
Invalidation zone: Below $74,000, where the breakout would be considered failed.
🔔 Final Thoughts
This chart signals a bullish continuation for BTC as long as price holds above the wedge and support zones. Ideal for position trades or swing entries, especially on retests of breakout levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.