The long-term correction for Bitcoin appears to be over after the price successfully broke out of a 150-day falling wedge pattern. This move marks a major shift in market structure from a downtrend to a new bullish phase.
The daily candle has closed above the previous resistance, confirming that the bulls are back in control. This breakout is supported by rising volume and a shift in momentum indicators.
The price is now retesting the breakout zone to establish new support. This "break and retest" is a classic technical confirmation that the previous ceiling has now become a floor for future gains.
By clearing the upper boundary of the wedge, Bitcoin has effectively invalidated the bearish sentiment that dominated the last few months. Traders are now looking at this as a clean entry point.
The RSI has also broken its descending trendline, showing that the strength behind the move is genuine. It isn't just a price spike, but a fundamental change in how the market is behaving.
With the immediate resistance levels now behind us, the path toward the $90,000 and $100,000 psychological marks looks much clearer. The "Correction Phase" has officially been replaced by accumulation.
Investors who were waiting on the sidelines are starting to jump back in as the trend becomes obvious. This influx of liquidity is exactly what is needed to sustain a long-term rally.
If the current support holds firm, we are likely looking at the start of a massive move toward new all-time highs. The new bull season is officially underway.