BTC Breaks Out Above $67,000, Eyes $85,000 as Consolidation Continues
Bitcoin's daily chart shows a bullish structure after breaking out above $67,000 with strong volume expansion. This breakout led to an impulsive move toward the $82,000-$83,000 resistance zone, where it is currently consolidating while forming higher lows along a rising trendline.
The consolidation pattern resembles a bullish ascending triangle type formation, which could signal further bullish continuation if a confirmed breakout above the upper resistance with strong volume occurs. A strong daily breakout above $82,000-$83,000 could confirm the continuation of the bullish structure and open the path toward $85,000 and $88,000-$90,000.
On the downside, a break below the $77,000-$78,000 rising trendline would indicate weakening momentum. A sustained move below $75,000 would further weaken the bullish setup and could bring $71,000-$72,000 into focus.