$BTC has reached a crucial moment in its trend after successfully recognizing the lowest point and the subsequent upward market shift. The latest 4H candle closed exactly at the black resistance trendline. The price trades above this level which indicates that BTC prepares for an upcoming breakout.
The breakout remains unconfirmed because price needs to achieve 4H candle closes above the black trendline to establish confirmation. The breakout will become evident through market movement when price reaches $77–$78k. The market may return to the black trendline for a retest as new support before executing the breakout move which will lead to upward price movement.
The situation needs explanation because BTC will already start facing difficulties when it fails to establish a closing point above the black trendline. The situation will create a descending triangle pattern which could lead to a price decline that would reach $62.8k.
The presence of all previous bullish indicators I shared yesterday supports the belief that this breakout will occur. We should just be watching for confirmation closes.
