- Bitcoin has strongly rebounded from the $73,950 support, forming bullish patterns like a double bottom and falling wedge.
- If key resistance at $77,500–$78,000 is broken, BTC could rally toward $80,500 in the short term.
Bitcoin (BTC) has flashed a strong bullish signal after rejecting the $73,950 support zone for the second time — forming a textbook double bottom. This pattern, often associated with trend reversals, is attracting significant attention from traders and analysts alike.
The 15-minute chart reveals a decisive hammer candlestick forming right at the support, with buyers quickly stepping in to absorb sell pressure. This wick-heavy candle is a key early indication that bulls may be ready to regain control.
Falling Wedge Points to Breakout Potential
Zooming into the 1-hour and 15-minute timeframes, a falling wedge formation is clearly visible. This classic bullish reversal pattern is marked by narrowing price action and frequent lower wicks — suggesting mounting pressure from buyers looking to break out.
Should Bitcoin break above the upper wedge resistance, a quick move to the $78,800 mark is likely. This level aligns with previous short-term resistance and could act as a launchpad toward even higher ground.
Key Levels to Watch in the Next 8 Hours
Market participants should keep a close eye on the $77,500–$78,000 zone. A decisive hourly close above this range would not only confirm the breakout but also increase the probability of a short-term rally toward $80,500.
Additionally, technical traders will be watching the MACD indicator on the 1-hour chart. A bullish crossover here would further validate upward momentum and solidify the case for continued gains.
Bitcoin’s rejection at $73,950 and the emergence of bullish patterns could set the stage for a relief rally over the next 8 hours. If buying pressure continues and key resistance zones are breached, BTC may quickly climb back toward $80K — reaffirming bullish sentiment in the near term.
Bitcoin’s rejection at $73,950 and the emergence of bullish patterns could set the stage for a relief rally over the next 8 hours. If buying pressure continues and key resistance zones are breached, BTC may quickly climb back toward $80K — reaffirming bullish sentiment in the near term.
