Bitcoin Squeezing Into Key Resistance: Breakout Setup

Dec 2

Bitcoin is currently testing a key horizontal resistance zone (highlighted in purple) after forming a steady series of higher lows along the ascending trendline. This creates a compression pattern where price is being squeezed toward a breakout point.

A decisive move above the resistance zone could trigger bullish continuation, with momentum potentially pushing price toward the next liquidity area around the upper target zone.

However, a rejection from this resistance or a break below the ascending trendline would shift the short-term bias bearish. In that case, price may revisit the lower liquidity pocket marked as the downside target.

Key Points:
• Structure: Higher lows forming against strong resistance
• Bullish Scenario: Break and hold above resistance → continuation toward 89k–90k zone
• Bearish Scenario: Trendline break + failure at resistance → move toward 84k area
• Decision Zone: Current resistance region is critical for determining direction

Bias:
Neutral-to-bullish while price holds above the ascending trendline. Confirmation required for either breakout or rejection.

6 days ago

Trade closed: target reached

Price consolidated beneath a horizontal resistance zone while forming higher lows from below, creating a rising trendline. Once price finally broke above the resistance, it retested the breakout area (the purple zone) and held it as support. This successful retest triggered strong bullish continuation, leading to a clean impulsive move upward. The momentum push carried price directly into the projected target zone, completing the breakout setup.