🔗 Chart: 
Bitcoin has reached a critical point, and the movement today and tomorrow seems to be of great importance.
On the daily chart, Bitcoin appears to be on the verge of breaking the ascending trendline that has been in place since April 9, 2025.
From a pattern perspective, the lower wick of the strong bullish candle from May 8 has not yet been broken, and after a strong rally, Bitcoin is currently in a sideways consolidation phase.
However, with time, the price has approached the trendline again, and it seems to be at a key decision-making point: will it continue to rise from here, or will it shift into a corrective trend?
🔗 Zoomed-in 4H chart:
Looking at the 4-hour chart, we can see a pennant pattern forming, where highs are getting lower and lows are getting higher.
If the price breaks out from this consolidation zone, it will likely coincide with a break of the daily ascending trendline.
In that case, there is a high probability that a retest down to the 100,678 level will occur.
If this level fails to hold, it could indicate the end of the bullish pattern, and the trend may shift to a corrective one, potentially leading to a one-way drop toward the next major support zone at 94,450. Caution is advised.
🔍 Conclusion:
If you are hoping for a continuation of the uptrend, the most important signal will be a conservative breakout and close above the 106,000 level. So far, there has been no confirmed daily close above this level.
Note: Altcoins can still move up while Bitcoin consolidates, so this analysis is focused purely on Bitcoin.
Whether or not the ascending trendline holds is critical. If the trendline is broken, there is a 90% chance that the pennant pattern will also break down, potentially leading to a correction down to 100,678.
If 100,678 breaks to the downside, that could mark the start of a new downtrend.
As for how far it could fall from there? Honestly, no one knows. Only those with strong conviction may be able to hold long enough to see profits. However, breaking below 100,678 would likely mark a significant turning point.
Bitcoin has reached a critical point, and the movement today and tomorrow seems to be of great importance.
On the daily chart, Bitcoin appears to be on the verge of breaking the ascending trendline that has been in place since April 9, 2025.
From a pattern perspective, the lower wick of the strong bullish candle from May 8 has not yet been broken, and after a strong rally, Bitcoin is currently in a sideways consolidation phase.
However, with time, the price has approached the trendline again, and it seems to be at a key decision-making point: will it continue to rise from here, or will it shift into a corrective trend?
🔗 Zoomed-in 4H chart:
Looking at the 4-hour chart, we can see a pennant pattern forming, where highs are getting lower and lows are getting higher.
If the price breaks out from this consolidation zone, it will likely coincide with a break of the daily ascending trendline.
In that case, there is a high probability that a retest down to the 100,678 level will occur.
If this level fails to hold, it could indicate the end of the bullish pattern, and the trend may shift to a corrective one, potentially leading to a one-way drop toward the next major support zone at 94,450. Caution is advised.
🔍 Conclusion:
If you are hoping for a continuation of the uptrend, the most important signal will be a conservative breakout and close above the 106,000 level. So far, there has been no confirmed daily close above this level.
Note: Altcoins can still move up while Bitcoin consolidates, so this analysis is focused purely on Bitcoin.
Whether or not the ascending trendline holds is critical. If the trendline is broken, there is a 90% chance that the pennant pattern will also break down, potentially leading to a correction down to 100,678.
If 100,678 breaks to the downside, that could mark the start of a new downtrend.
As for how far it could fall from there? Honestly, no one knows. Only those with strong conviction may be able to hold long enough to see profits. However, breaking below 100,678 would likely mark a significant turning point.
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.