Bitcoin’s breakout has been confirmed, but is it true or a bull trap?

Featured in:
abcd

Bitcoin confirmed a break of the macro bearish trend on the line chart, signaling a potential change in the broader market structure. However, price is key these days resistance zone on the logarithmic plot, uncertainty remains. The coming sessions will be crucial in determining whether this move turns into a sustained uptrend or a potential bull trap.

A macro break signals the possible end of the bear cycle

Historically, Bitcoin bear markets end when the price begins to steadily climb above a macro downtrend on line charts. After yesterday’s daily close, Scient notes that we have officially confirmed the breakout from this main trend line. This change in market structure has prompted a strategic search for high-potential setups across various altcoins.

sadasda

Despite the linear breakout, the question remains whether this move represents a true trend reversal or a momentary deviation. While a line chart shows a clear break of resistance, a logarithmic chart tells a different story. Currently, the price is right at the major resistance level on a logarithmic scale.

The validity of this move depends largely on how price reacts to these overlapping levels in the coming sessions. If this move turns out to be a imitation, the price will quickly lose momentum. In this case, Bitcoin will likely fall below the linear resistance.

To confirm true strength on both a linear and logarithmic perspective, the price must hover around the mid-$80,000s. Maintaining this level through several daily closes would effectively change the macro structure from bearish to bullish, turning all subsequent price declines into high-conviction buying opportunities for long-term investors.

The coming seven to 10 days represent a key window for the medium-term trajectory of Bitcoin and the broader market. This time frame will determine whether the current breakout can overcome logarithmic resistance or if the market requires further consolidation.

Bitcoin is closing in on its $80,000 target and momentum remains steady

According to Crypto Candy, Bitcoin is currently moving in line with previous forecasts, showing powerful momentum as it approaches the primary target of $80,000. The analyst notes that the asset has almost reached this milestone and if the current buying pressure continues, the price is expected to enter the $80,000 zone soon.

While the upward trajectory is clear, potential short-term retracements are likely before the final target is achieved. These tiny pullbacks are considered a natural way for the market to breathe and do not change the broader outlook for bulls.

The current bullish bias remains intact as long as Bitcoin maintains its position above the $73,000 level. This price point serves as the final line in the sand for the current move. Therefore, the most likely scenario for the near future remains a path towards $80,000.

Bitcoin

abcd
sadasda

Find us on

Latest articles

Related articles

See more articles

Aluminum giant Alcoa will sell idle smelter to Bitcoin...

US aluminum giant Alcoa is reportedly close to reaching a deal to tranship its long-closed Massena East...

Charles Schwab, Citadel Securities Considers Entering Prediction Markets

Traditional financial giants Charles Schwab and Citadel Securities are considering entering the forecast markets, and each is...

Asteroid Shiba’s 68,000% surge leaves traders stunned after Elon...

One trader turned a single ETH into over $470,000 in just a few hours. Another held a...

Warren says the SEC’s Atkins likely misled Congress about...

US Senator Elizabeth Warren accused Paul Atkins, head of the Securities and Exchange Commission, of potentially lying...

Dogecoin is approaching a key inflection point as the...

Dogecoin's price is still compressed to a narrowing range just below $0.1, but analyst Lars has released...

The platform was used to re-stake Kelp and $293...

Kelp, a liquid retaking protocol, fell victim to a cyberattack on Saturday, which resulted in the platform...