BTCUSD - Consolidation Likely to Resolve with Bullish BreakoutThe Bitcoin/USD 4-hour chart displays a consolidation pattern after recovering from the March lows near $77,000, with current price action hovering around $83,928. Following a recent test of resistance at $86,500, a minor pullback appears to be underway, but the higher probability move remains to the upside as indicated by the directional arrows on the chart. The price has been forming a series of higher lows since the March 11 bottom, suggesting accumulation and underlying bullish momentum. Key to this outlook is the strong support established by the blue reaction zone near $76,000-$78,000, which has successfully contained selling pressure. Traders should monitor for a potential shallow retracement before the anticipated push toward the orange resistance level at $87,650, which represents the next significant hurdle. A decisive break above this resistance would likely trigger an acceleration in buying momentum and confirm the bullish scenario, potentially opening the path toward retesting the $90,000-$92,000 region in the coming sessions.
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