Bitcoin has achieved a significant technical breakout. Both the daily descending channel and the descending trendline resistance have now been broken to the upside. This is a major structural shift, as these two confluent resistance levels had been capping price action for an extended period.
Following the breakout, the price has also completed a valid retest of the broken resistances. In technical analysis, a successful retest occurs when the price returns to the broken resistance level (which now acts as support) and holds above it, confirming that the breakout is genuine rather than a false move. Additionally, a period of range-bound consolidation after the breakout further strengthens the new support zone.
Now that the former resistances have been transformed into strong support levels, the path of least resistance is to the upside. The next major psychological and technical target is the 80,000 level. Once Bitcoin is able to break and close above 80K, it is expected to trigger the next phase of the bull market.
This anticipated bull market comes after approximately one year of ranging and dumping, during which Bitcoin consolidated, shook out weak hands, and built a base for the next leg higher.
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Following the breakout, the price has also completed a valid retest of the broken resistances. In technical analysis, a successful retest occurs when the price returns to the broken resistance level (which now acts as support) and holds above it, confirming that the breakout is genuine rather than a false move. Additionally, a period of range-bound consolidation after the breakout further strengthens the new support zone.
Now that the former resistances have been transformed into strong support levels, the path of least resistance is to the upside. The next major psychological and technical target is the 80,000 level. Once Bitcoin is able to break and close above 80K, it is expected to trigger the next phase of the bull market.
This anticipated bull market comes after approximately one year of ranging and dumping, during which Bitcoin consolidated, shook out weak hands, and built a base for the next leg higher.
✍🏼Author's word: Like & comment(your thoughts) if you found it helpful.🩷
Note
Educational Note:A descending channel is a bearish continuation pattern characterized by lower highs and lower lows. A breakout above the upper channel resistance signals a potential trend reversal. However, a breakout is not considered fully valid until a retest confirms that the broken resistance now acts as support. This retest provides a higher-probability entry point for traders. Furthermore, when a breakout is accompanied by a period of consolidation (ranging) above the breakout level, it indicates accumulation and increases the likelihood of a sustained upward move.
Note
80K is acting as strong resistance🔴 right now for 
BTCUSDT, but strong resistance doesn't mean impossible. It just means price needs enough momentum, volume, and conviction to break through. And when it does? That level becomes new support🟢.Trade active
Two major support zones are holding strong and fighting bear soon the next bull move will start unless some negative fundamentals dump it again for short-term but then also we are bullish still long-term.
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Get Up to $30,000 with deposit & trading at BYBIT+ Free access to VIP= only with my link now: shorturl.at/JgGFD
My telegram channel: t.me/mmbtchannel
VIP Channels:
Crypto +390% & Forex:+600Pips monthly.
check my telegram for more.
My telegram channel: t.me/mmbtchannel
VIP Channels:
Crypto +390% & Forex:+600Pips monthly.
check my telegram for more.
Related publications
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.