On the 1-hour chart, BTC is forming a falling wedge pattern, a structure that typically signals potential for an upward breakout. This bullish indicator is further supported by an upward-trending RSI, which suggests strengthening buying momentum.
BTC has been consistently rejecting the support line before rebounding, demonstrating a pattern that reinforces buyer interest. A successful breakout above the resistance line could lead BTC to target the next major level near $95,993.45.
This aligns with classic technical analysis principles, where a falling wedge often precedes a strong upward move. Watch for a breakout accompanied by high trading volume, as this would increase the likelihood of hitting the target zone.
Key Highlights:
Falling wedge pattern indicates bullish potential.
RSI moving upward suggests increasing momentum.
Consistent support line rejections signal strength from buyers.
A breakout above resistance could initiate a significant rally.
This analysis applies to spot trading only. For futures signals, visit my Binance Live by clicking on my profile.
