Bitcoin price analysis: Can the bulls be lucky this time after the breakout?

BTC/USD trades mildly in the red.
Intra day retracement from trendline resistance.
Broke out of the falling wedge pattern, again.

Manoj B Rawal Independent Analyst

Bitcoin, in a shrinking volatility trade on Saturday, was trading in the red as the price faced resistance at the upper trendline channel on the intra day chart, after breaking out of the falling wedge pattern, which it had broken out but failed to hold on to, earlier this month.

BTC/USD was trading 0.4 percent lower at $8,840, retracing from day's high of $8,970, trendline channel resistance on the intra fay 240-minute chart. Support for the crypto now stands at $8,491 and $8,062.

Earlier this week, BTC broke out of the falling wedge pattern - yes, the same pattern which it broke out earlier in the month but failed to hold on to, and continued its gains so far. If sustained, this could lead the bulls to take it towards new highs.

Daily chart

Intra day 240-minute chart

Author

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.

Bitcoin, Ethereum, and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Ethereum Price Forecast: FG Nexus continues distribution amid signs of returning risk-on sentiment

FG Nexus, once dubbed an Ethereum treasury firm, resumed offloading the top altcoin on Wednesday, distributing 7,550 ETH, according to data from smart money tracker EmberCN.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: No recovery in sight

Bitcoin (BTC) price continues to trade within a range-bound zone, hovering around $67,000 at the time of writing on Friday, and falling slightly so far this week, with no signs of recovery.