Bitcoin has rebounded into the mid-$90,000s after a two-day burst of strength, with price action jumping roughly 3.1% in the last 24 hours to push the market back above $95,000. But while recent momentum looks constructive, technical analyst Jackis warns that the next major move will be decided by price — not opinions. What the charts show - On the 8-hour chart, Bitcoin is plotting an ascending triangle: a formation that often signals an upside breakout, but can also fail and resolve lower. Jackis points out that similar-looking setups have produced both bullish reversals (for Bitcoin in prior cycles) and bearish continuations (seen with Ethereum in other episodes), so history is mixed. - Given that ambiguity, Jackis currently leans toward a bearish bias until price proves otherwise — meaning the active trend should be treated as down until there’s clear confirmation of upside. Key scenarios to watch - Bull case: A decisive breakout above roughly $96,000 would strengthen the bullish narrative. Jackis says a clean push through that level could open a path toward $107,000 and potentially higher. - Bear case: The bearish trigger is a break below the rising support line of the triangle. Price can look constructive up to that trendline — but if it snaps, downside momentum could accelerate and drive Bitcoin back toward the April lows. Those April lows followed a January 2025 rejection above $106,100 that led to a multi-month correction and a bottom near $76,000. Risk and trade management Jackis emphasizes that once price breaks either way, follow-through can be quick. That makes standing stubbornly on the wrong side of a breakout costly — traders should wait for price confirmation and manage risk accordingly. Bottom line Both bullish and bearish cases are valid today. Watch the triangle’s boundaries: a confirmed push past $96,000 would favor bulls, while a clean breakdown under the rising trendline would shift odds toward a deeper reset toward the April low area. For now, let the chart decide. Read more AI-generated news on: undefined/news

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