Is Bitcoin about to “reverse strongly”? A mysterious technical signal is making investors extremely cautious.
A technical signal that few are paying attention to is leading experts like BTCEarth to believe that Bitcoin might soon break out again.
Theo BTCEarth – a prominent analyst in the crypto space – Bitcoin has repeatedly tested the support area around $74,000, which emerged from the price surge during September 2024 (playfully referred to as the “Trump breakout”).
Notably, the long-term support line (referred to as the “green line” by BTCEarth) has yet to be broken, and the recent lows around $74,434 and $74,588 are showing a potential bottom pattern.
Technical structure: “Falling wedge” is tightening, preparing to explode?
On the chart, Bitcoin is moving within a “falling wedge” pattern, which often appears before price surges.
Line D is support, line E is declining resistance. If the price breaks and holds above line E in the coming sessions, it will signal a confirmed trend reversal.
Notable price ranges
Accumulation buy zone: $74,000 – $75,000
Nearest resistance: $80,000
Strong resistance: $86,000 – $88,000
Long-term target: $100,000
While waiting for breakout confirmation, the “hold” strategy remains prioritized. However, if the technical signal is activated, Bitcoin could open a new bullish cycle as early as this month.
