Bitcoin
Long
Updated

Price Breakout from Consolidation – Bullish Momentum Ahead?

338
After weeks of sideways movement price has finally broken above the consolidation range near the 88,293 level signaling a potential shift in market sentiment
Key Observations
Support Zone The market found strong support around the 78,479 level multiple times forming a solid base
Trendline Break A descending trendline was respected until early April when price broke above and began forming higher lows
Consolidation The market entered a consolidation phase between 86,481 and 88,293 indicating accumulation before a potential move
Breakout A clear bullish breakout has occurred above 88,293 suggesting increased buying pressure
Next Target If this breakout holds the next resistance to watch is around 95,170 which aligns with a prior supply zone
What’s Next? We may see a minor retest of the 88,293 level before continuation to the upside A successful retest could offer a bullish entry opportunity targeting the 94,000–96,000 range
Bias Bullish (as long as price remains above 88,293)
Trade active
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