Bitcoin (BTC) has officially broken the descending trendline on the daily timeframe, closing above $84,500 with strong bullish momentum.
Chart Breakdown:
BTC was in a clear downtrend since mid-February, forming lower highs.
Price has now broken above the trendl$BTC #ine resistance, indicating a possible trend reversal.
Daily candle closed at $84,596, up 1.00% for the day.
What to Watch Next:
$86,800 – Next resistance zone from previous rejection
$82,500 – Retest level if BTC pulls back
$88,000-$90,000 – Bullish continuation target zone
My View:
As long as BTC holds above the breakout level ($83,500–$84,000), we could see a bullish continuation. However, a daily close back below the trendline may invalidate this move.
Are we entering the next bullish leg, or is this a fakeout?
Let’s discuss in the comments.