Bitcoin (BTC) Price May Be Breaking Out of Its Six-Week Struggle — New All-Time Highs Incoming?

Bitcoin has been fighting to break above $90,000 for the last six weeks. Before this, BTC spent about 16 weeks moving sideways

Bitcoin price has been struggling to break above $90,000 for the last six weeks. Before this, BTC spent about 16 weeks moving sideways between $90,000 and $109,000. Now, an important breakout pattern suggests Bitcoin might be ready to climb toward a new all-time high.

World Of Charts has identified that Bitcoin is recovering and approaching a key resistance area. This area is marked by both a falling wedge pattern and a descending trendline. For Bitcoin to continue moving up, it needs to break through this resistance zone. If BTC manages this breakout successfully, it could pave the way for new record highs.

Bitcoin price movements in recent months show a pattern of consolidation followed by a gradual decline. After reaching high values in late 2024, Bitcoin began forming what traders call a “falling wedge pattern.” This means the price made a series of lower highs and lower lows, creating downward-sloping lines that get closer together.

According to World Of Charts, this falling wedge pattern usually signals good news for Bitcoin. These patterns are commonly known to indicate an upcoming reversal of the downtrend. The upper line of this wedge acts as the resistance zone that Bitcoin needs to breach to confirm that prices are likely to rise again.

Bitcoin has been moving sideways for a long time, building up energy in the market. For about six months, BTC traded between $90,000 and $109,000. Then it dropped below $90,000 and has been struggling there for the past six weeks.

When prices stay in a range for this long, it typically leads to a strong move once the price breaks out in either direction. As highlighted by World Of Charts, Bitcoin is showing signs of recovery and approaching the critical resistance area formed by the falling wedge and descending trendline.

The most promising aspect of Bitcoin’s current situation is that it might not just recover lost ground but potentially reach new record highs. The falling wedge breakout that World Of Charts identified usually suggests that prices could move higher than where the pattern began.

If Bitcoin manages to break through the resistance zone that has been holding it back, it could rise significantly. Market analysts opine that clearing this hurdle might trigger a rapid upward movement fueled by technical buyers, short-sellers covering their positions, and renewed interest from investors.

The next few days and weeks will be crucial in determining if this breakout will last. The fate of Bitcoin’s future price movement depends on whether it can convincingly break through the resistance zone at the top of the falling wedge pattern. If successful, Bitcoin could soon challenge its previous records and possibly set new all-time highs.

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