bullish

Bitcoin

would

<ul class="wp-block-list">
  
 <li>The lower border of an ascending triangle pattern receives testing from BTC at this moment but it could trigger an upward breakout into a bull market if this support area stands.</li>   
 <li>BTC can potentially reach $85,000 in value after maintaining elevated price levels and create an opening for further gains towards $90,000.</li>   
 <li>&nbsp;The market conditions alongside macroeconomic elements will determine BTC's potential value drop to $80,000 or lower in case it fails to maintain support levels.</li> 
</ul>   
<p>Bitcoin's latest price movement shows that it is currently testing the lower support line of an ascending triangle pattern. This technical formation, observed in the cryptocurrency's 4-hour chart, is often associated with potential bullish breakouts.&nbsp; A price consolidation pattern emerges as higher trading lows form an upward inclining support line break through a horizontal resistance level before a potential price jump occurs.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/TATrader_Alan/status/1901878339402637821 
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</figure>   
<p>The displayed chart shows Bitcoin approaching its lower trendline that historically served as a buying area. Bullish sentiment will strengthen if the price keeps rising above support levels which could result in breaking through resistance near $85,000. A price breakdown signifies bearish pressure up until it reaches lower support areas.</p>   
<h2 class="wp-block-heading" id="potential-scenarios-and-market-implications">Potential Scenarios and Market Implications</h2>   
<p>The cryptocurrency will likely keep breaking fresh higher lows and push the price upward through the continued support above its rising trend line. Bitcoin has the potential to exceed $90,000 after breaking through the resistance level which would occur during a successful breach. The cryptocurrency market demonstrates persistent strength as evidence.</p>   
<p>If the price fails to hold up from the lower support line it will break the bullish pattern thus initiating a selling rush across the market. Bitcoin could potentially fall to cater to support levels starting from <a href="https://www.coingecko.com/en/coins/bitcoin">$80,000 </a>down. The upcoming major Bitcoin price movement will depend significantly on the market sentiment alongside macroeconomic factors including participation by institutions as well as liquidity conditions.</p>   
<h2 class="wp-block-heading" id="bitcoin-signals-neutral-momentum">Bitcoin Signals Neutral Momentum&nbsp;</h2>   
<p>The Bitcoin RSI currently shows 48.91 which indicates neither bullish nor bearish momentum because it stays in the middle zone.</p>   
<figure class="wp-block-image">
 <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeapcuMjZBYUDZ5HAgV9tomEDcfEa7R3sWDCgM9s9jcPoOKyyNuy8m7wvsOf4G0VLVvKAtmriI4xIkp-tdbCl8B5n_k1XMUCvsF1CHKXhaBpPYZNs9y3_S4cqjPZ1sfoHV862TukQ?key=Yj5EL6OdUslJ3bcnm95eOKz1" alt="">
</figure>   
<p class="has-text-align-center">Source:<a href="https://www.tradingview.com/chart/g5JsCsG5/?symbol=BITSTAMP%3ABTCUSD">TradingView</a></p>   
<p>The MACD indicator shows weak bearish momentum while its lines indicate -131 for MACD and -74 for signal and 56 for histogram. The current values from BTC's technical indicators demonstrate weak bullish power yet a transition above zero would presage a market trend modification.</p> 
<p>The post <a href="https://cryptofrontnews.com/bitcoin-tests-ascending-triangle-support-will-85k-break/" target="_blank">Bitcoin Tests Ascending Triangle Support – Will $85K Break?</a> appears on <a href="https://cryptofrontnews.com" target="_blank">Crypto Front News</a>. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.</p>

Bitcoin Tests Ascending Triangle Support – Will $85K Break?

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