BTC/USDT Analysis (Daily Timeframe)
Bitcoin is currently trading around $85,326. On the chart, we can see a falling wedge pattern, which typically signals a potential bullish breakout. Price recently broke above the 200-day moving average (red line) — a key resistance level — and is now pulling back to retest it.
If the retest holds and BTC maintains support above the 200 MA, we could see a strong upside move, especially with the falling wedge acting as a bullish reversal pattern.
Key things to watch:
Support: Around $84,500 (200 MA zone)
Resistance: $88,000–$90,000 range
Breakout confirmation: A daily candle close above the wedge resistance and reclaim of horizontal support zone
