Bitcoin Holds Key Support, Eyes Bullish Reversal

Bitcoin is showing signs of a potential bullish reversal, according to crypto analyst BTCEarth. The analyst noted that the cryptocurrency has been holding firm at a key support zone, which was originally established around the "Trump rally breakout." This support zone has been retested multiple times, with the most recent price touches at $74,434 and $74,588 forming another significant bottom. The analyst believes that the repeated validation of this support suggests that Bitcoin is building a strong foundation for a potential bullish reversal.

BTCEarth also pointed out that Bitcoin is currently trading within a falling wedge pattern. The price action has continued to compress within this narrowing structure, signaling a breakout on the horizon. A confirmed move above Line E, especially one sustained over multiple daily candle closes, would validate the pattern and confirm a bullish reversal. Such a breakout could set the stage for a stronger upward trend as traders recognize the shift in market structure.

The analyst highlighted that the accumulation zone between $74,000 and $75,000 remains intact, offering a favorable risk-reward setup for long positions. The immediate resistance lies at $80,000. Further resistance is found between $86,000 and $88,000, an area of historical consolidation and heavy volume. A breakout above this zone would significantly strengthen Bitcoin. Beyond that, the major horizontal resistance near $100,000 remains the ultimate target. This level represents a psychological milestone and a crucial technical threshold. If Bitcoin builds enough momentum to clear it, it could pave the way for a fresh leg up in the long-term bullish cycle.

In conclusion, BTCEarth highlighted that Bitcoin is stabilizing above a critical support zone, with the price structure suggesting a potential bottom formation. A breakout above Line E could spark a powerful bullish move toward the $88,000–$100,000 range. However, until this breakout occurs, caution remains crucial, and maintaining a hold strategy is advised.