Title: Bitcoin at a Critical Juncture: What to Expect Next
Bitcoin has shown strong bullish momentum over the long term, with a well-defined ascending trendline intact since the macro bottom. In its most recent major leg up — from the $75,000 zone to the $122,000 top — price action formed a rising wedge, typically a bearish reversal pattern when found at extended highs.
Recently, Bitcoin reached the upper boundary of this wedge and has since begun consolidating near the top, forming a descending triangle, another bearish continuation structure. A confirmed break below the triangle’s lower support could trigger a move toward the wedge’s lower boundary — around the $111,500 zone — to retest that key trendline support.
However, a breakout above the $119,500 resistance (the triangle’s upper edge) would invalidate the bearish setup in the short term and open the door to new highs, with higher targets likely to be explored.
Traders should closely monitor price action within this tightening structure, as volatility is likely to expand soon with a decisive move in either direction.