**Bitcoin Eyes $85K Amid Bullish Wedge Pattern**

Bitcoin is showing signs of a bullish wedge pattern, with traders optimistic about a potential price surge to $85,000. Crypto trader Jelle highlighted this pattern, often seen as a reversal indicator, suggesting Bitcoin might break out sharply.

Currently trading at $67,908, Bitcoin has seen a 2.61% rise since July 26. A move to $85,000 would mark a 25% increase from its current price. The next critical level is $69,000, which could clear $929.65 million in short positions, according to CoinGlass.

Speculation is also fueled by former President Donald Trump's upcoming appearance at the Bitcoin 2024 conference, with some traders holding off on short positions in anticipation of a potential strategic Bitcoin reserve announcement.

Stay tuned as Bitcoin's price action unfolds.