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Bitcoin could be the scene for a large reversal, according to Crypto analyst BTCearthe. In a recent Post on XBe the analyst on an important support zone that holds, which reinforces the possibility of soil formation.
In particular, the analyst said that the price promotion “has respected the long-standing Blue Support line”, originally located around the “Trump Rally Breakout”. The current structure suggests a “possible soil formation near this zone, supported by volume and historical price behavior.”
With the volume that coordinates the relocation and historical price behavior, BTCearth is of the opinion that the current structure can mark the early signs of a Bullish Turnaround for Bitcoin.
Threatening price recovery for Bitcoin?
BTCearth pointed out that the blue horizontal support line on its card closely matches Bitcoin’s early outbreak In September 2024. This level has since succeeded as a crucial support zone, which has been reunited several times in recent months. The most recent price in particular affects $ 74,434 and $ 74,588 seem to have formed an important soil.
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According to BTCearth, the repeated validation of this support suggests that Bitcoin is building a strong basis. If this structure applies, it can clear the road for one Bullish reversalEspecially because the momentum and historical price behavior support a potential outbreak of this area.
BTCearth also emphasized that Bitcoin is currently trading in a falling wig pattern. In its graph, Line D serves as a support basis, while Line E marks the falling resistance. The price action has continued to compress within this narrowing structure, which indicates an outbreak on the horizon.
He noted that a confirmed movement above line E, especially someone who was sustained over several daily candle closures, would validate the pattern and confirm a bullish reversal. Such a breakout could be the scene for a stronger upward trend as traders Recognize the shift in market structure.
Main resistance and purchase zones
BTCearth emphasized that the battery zone remains between $ 74,000 and $ 75,000 intact and offers a favorable risky setup for long positions. The immediate resistance is $ 80,000. Further resistance is found between $ 86,000 and $ 88,000, an area of historical consolidation and heavy volume. Bitcoin would considerably strengthen an outbreak above this zone.
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He also pointed out that the most important horizontal resistance in the area $ 100,000 the ultimate target remains. This level represents a psychological milestone and a crucial technical threshold. If Bitcoin builds enough momentum To erase it, it could pave the way for a fresh leg in the long -term bullish cycle.
In conclusion, BTCearth emphasized that Bitcoin stabilizes over a critical support zone, in which the price structure suggests potential soil formation. A breakout above line E could cause a powerful bullish step in the direction of $ 88,000 – $ 100,000 reach. However, until this breakout occurs, caution remains crucial and maintaining a hold strategy is advised.
Featured image of Adobe Stock, Chart van TradingView.com
