In recent days, Bitcoin has shown price growth, tied to important technical signals. Let's examine the current market situation and possible scenarios.
Technical Breakout on Daily Chart
The daily Bitcoin chart reveals a crucial technical break above a descending resistance line that has governed price action since December 2024. As Bitcoin now trades above $84,900, this breakout signals a potential trend reversal.
Signals on 4-Hour Chart
On the 4-hour chart, Bitcoin has been forming a series of higher lows, indicating accumulation. After breaking above the descending trendline, Bitcoin has consolidated above $84,000, a key support level, resembling a bullish flag.
Short-Term Prospects and Predictions
Currently, the market is moving within a narrow range between $84,400 and $85,200, typical after a breakout. Based on current signals, further growth can be anticipated if Bitcoin holds above $84,000.
In conclusion, current technical indicators suggest potential further price growth for Bitcoin. It is important to maintain risk management strategies in the volatile market.
