Bitcoin Daily Outlook: Falling Wedge Signals Breakout Potential

Bitcoin is currently trading at $80,837 and is forming a classic falling wedge pattern on the daily timeframe, which is typically a bullish reversal setup. The pattern indicates that the selling pressure is gradually weakening, and a breakout to the upside could be imminent. The immediate resistance to watch is around $84,179—a clear breakout above this level is essential to confirm the bullish move. Once breached, the next major target stands at $110,472.

However, lower timeframes are showing choppy and indecisive price action, suggesting a phase of consolidation and uncertainty among market participants. This reinforces the importance of waiting for a confirmed breakout from the wedge on the daily chart. Traders should be cautious of fakeouts and look for volume confirmation and strong candle formations near resistance. Until then, Bitcoin may continue to range within the wedge, testing both support and resistance levels.