Bitcoin Price Breaks Out of Descending Structure

Bitcoin's price has broken out of its descending structure and reclaimed the $80K area, accelerating momentum. The cryptocurrency is now trading around $85K, with a next major resistance at the $88K bearish order block.

The daily chart shows that Bitcoin has regained both the 100-day and 200-day moving averages, which was not the case for much of the year. This structural shift is significant, as it indicates a change in market sentiment.

However, the RSI on the daily chart is approaching 75, indicating that the market may be becoming increasingly stretched in the short term. The next key support level to watch is the $80K region, which has become an important area following the breakout.