Bitcoin recently broke out of a falling wedge formation, typically a bullish technical signal, suggesting the potential for sustained upside.
However, at press time, Bitcoin traded at 94,036, slipping 0.71% over 24 hours.
This minor pullback highlights that sellers are still defending the 95,783 resistance zone aggressively. Therefore, Bitcoin needs a clean daily close above this level to validate the bullish setup and aim for further gains.
Conversely, failure to breach this resistance could see the price slide back toward the 83,462 support level, where buyers previously showed strong interest.