Bitcoin โ€” Strong Reversal Signals Potential Shift in Momentum

Wait 5 sec.

Bitcoin โ€” Strong Reversal Signals Potential Shift in MomentumBitcoin / U.S. dollarBITSTAMP:BTCUSDMihai_IacobYesterday turned into an interesting session for Bitcoin, with price staging a strong reversal of nearly 10%, bringing volatility back into the market after a prolonged period of pressure. ๐Ÿ”Ž What the Chart Shows Following the initial drop toward the 60k zone, BTC entered a consolidation phase that developed inside a triangle formation, reflecting temporary balance between buyers and sellers. Eventually, price broke below the triangleโ€™s support โ€” a move that would normally suggest continuation to new lows. But something important happened. Instead of accelerating lower and breaking decisively under 60k, the market failed to follow through, forming a higher low around 62,500. This lack of downside continuation, combined with yesterdayโ€™s strong bullish reversal, may signal that selling pressure is weakening. ๐Ÿ“ˆ Outlook The combination of: - failed breakdown - higher low formation - strong impulsive recovery increases the probability of a more meaningful upside reversal developing in the near term. ๐Ÿ“Œ Trading Plan At this stage, my bias turns bullish. ๐Ÿ‘‰ I will look to buy dips, with a potential upside objective around: ๐ŸŽฏ 78k zone โœ… Conclusion Bitcoin may be transitioning from corrective behavior back toward recovery. Confirmation will come from continued higher lows โ€” but for now, momentum appears to be shifting in favor of buyers. ๐Ÿš€