bullish

Bitcoin

Resistance

would

<ul class="wp-block-list cnl-post-highlights-list">
  
 <li>A successful break of BTC past an established lower-high pattern indicates possible short-term bullish momentum that will be followed by a correction.</li>   
 <li>The cryptocurrency market watches the $100K resistance area because Bitcoin draws nearer to reaching $92K and $100K yet strong selling pressure might lead to an opposite trend.</li>   
 <li>Research shows that Bitcoin may revert through a wave C correction following its achievement of fresh short-term elevated levels.<br></li> 
</ul>   
<p>Bitcoin has recently broken out of a 60-day lower-high pattern, potentially setting the stage for a notable price correction. The cryptocurrency has demonstrated the initial indication of price reversal through downward pressure which could lead to a short-term bullish movement before it undergoes a deeper market correction.</p>   
<h2 class="wp-block-heading" id="technical-breakout-and-market-trends">Technical Breakout and Market Trends</h2>   
<p>The digital asset had maintained a decreasing trendline structure throughout the past two months while establishing new high points below previous ones. <a href="https://cryptonewsland.com/bitcoin-is-back-above/" target="_blank" rel="noreferrer noopener">Bitcoin </a>recently broke through its descending price trend which indicates changing market sentiments. As traders observe the breakout they anticipate Bitcoin will reach $100,000 while waiting for a notable downturn.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/PhilakoneCrypto/status/1904049317939404994 
 </div>
</figure>   
<p>Bitcoin has established a corrective wave pattern since it started moving upwards through a first phase known as wave B that might push prices to new peaks before wave C launches a downward trend. Similar historical trends showcase this pattern as a brief period of bull-market strength that precedes an intensified bear-market reduction.</p>   
<h2 class="wp-block-heading" id="support-and-resistance-levels">Support and Resistance Levels</h2>   
<p>Currently, Bitcoin is trading around the $87,817.09 range, reflecting a steady climb from recent lows. The Bitcoin market shows resistance at $92,000 as well as $100,000 which could become significant points for potential selling pressure.&nbsp;</p>   
<figure class="wp-block-image aligncenter">
 <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdFcz2u_1M7xsIyHSK5ySK3Hq8z2zTWYlyuyUYc1u6VejvKObzES1c9eFds2ciIJxA6oii8t_J4Kb44U7BECFmdQLJKD6wGisxXUUrnwQKwZbqG7jWOCmKd4NXLxKS_duknbLF1IA?key=IHa8ZtdiioKGrHEeDdZYtZ_4" alt="">
 <figcaption class="wp-element-caption">
  Source:<a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener nofollow">Coinmarketcap</a>
 </figcaption>
</figure>   
<p>The ascending trendline supplements the strong support around $80,000 but both indicators remain steady in the same position.</p>   
<p>The next significant obstacle for Bitcoin price growth lies between its current level and the psychological milestone of $100,000. If Bitcoin fails to sustain its position at this resistance area prices might start moving downward toward alternative support ranges.</p>   
<h2 class="wp-block-heading" id="potential-risks-and-market-sentiment">Potential Risks and Market Sentiment</h2>   
<p>Increased <a href="https://cryptonewsland.com/bitcoin-etfs-see-first-outflow-as-btc-hovers-at-67k-is-volatility-ahead/" target="_blank" rel="noreferrer noopener">volatility</a> is expected, particularly if Bitcoin fails to maintain upward momentum.A potential wave C correction would likely pull Bitcoin prices downwards to lower areas throughout the upcoming months.&nbsp;</p>   
<p>The recent Bitcoin breakout from its 60-day lower high pattern delivers encouraging market signals for traders who focus on short-term movements yet the long-term market conditions remain indecisive. The market may continue to rise toward $100,000 before showing a major downward trend according to historical data.</p>

Bitcoin Breaks 60-Day Downtrend—$100K Next or a Correction?

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