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Bitcoin has confirmed a wave of its macro downtrend on the linear chart, which suggests that it is likely to shift in larger market structure. However, as the cost is now sitting at a key resistance zone on the logarithmic chart, uncertainty remains. This move will be a long-term bullish trend or if it is destined to become ‘bull traps’, the next sessions will play an important role in making this move.
Macro Breakout Signals Possible End Of Bear Cycle
Traditionally Bitcoin bear markets end when the price begins to steady increase above that macro downtrend in linear charting, and thus concludes with bitcoin bear market. In the wake of yesterday’s daily close, Scient notes that we have officially confirmed a breakaway from this main trendline. The shift in market structure has led to a strategic search for high-potential setups across many altcoins.
Despite the linear breakout, it is still unclear whether this move is true trend reversal or just a short-term deviation. While the linear chart clearly breaches resistance, a different story is told in the log chart. The price is currently sitting exactly at a high resistance level on the logarithmic scale.
This move is based heavily on how the price reacts to these overlap levels in future sessions. But if this is a hoax, and the price will quickly lose momentum unless it’s based on rumors that this move was faked. But if that is the case, Bitcoin would likely fall back below the linear resistance.
Source: Chart from Scient on X
Source: Chart from Scient on X
The price must be pushed into the mid-$80,000 area to confirm true strength across both linear and log perspectives. A high level of that level for several daily closes would effectively turn the macro structure from bearish to bullish, transforming all subsequent price dips into buying opportunities for long-term investors.
This is a turning point for Bitcoin’s medium-term trajectory and the wider market, with its next seven to ten days. This period will determine whether the current breakout can overcome the log resistance or if the market needs further consolidation.
Bitcoin Nears $80,000 Target As Momentum Holds Steady
Crypto Candy reports that Bitcoin is “moving in line with previous projections, a strong momentum as it approaches the main target of $80,000,” meaning its near-perfect bitcoin. Analyst notes that the asset has reached this milestone almost – and “if current buying pressure continues, then price will be expected to enter the $80,000 zone soon.”
The upward trajectory is clear, but retracements to potential short-term effects before the final target is hit are likely. Such minor reversals are natural market breathers and do not change the wider bullish outlook.
As long as Bitcoin continues to hold its position above the $73,000 level, it remains bullish in this current bully bias. For the current move, this price point is essentially what’s in the sand This price-point. For the rest of the future, this path toward $80,000 is still most likely to be the route for that next step with this.
$BTC trading at $76,995 on the 1D chart | Source: BTCUSDT on Tradingview.com
$BTC trading at $76,995 on the 1D chart | Source: BTCUSDT on Tradingview.com
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