Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The Bitcoin price is currently sitting on a key support trendline that could determine its next major move. According to a crypto analyst, a breakout from this level could lead to two possible scenarios. On the bullish side, the cryptocurrency could extend its recent price recoveryand push higher. However, in a bearish scenario, the analyst predicts a steep decline, with price possibly revisiting $68,000. Given the significance of this trendline, analysts and traders are closely watching to see how Bitcoin will react here. Bitcoin Price Sits At Critical Make Or Break Trendline
Crypto market analyst Ardi has presentedanother compelling Bitcoin price analysis on X. However, this time, he has outlined two potential price scenarios for the flagship cryptocurrency. While others believethat Bitcoin may have entered bullish territory following its surge above $79,000, Ardi still maintains a cautious stance even as he projects possible bullish scenarios. Related Reading Why The Bitcoin Price Could Hit $68,000 Again 25 minutes ago
In his post, Ardi noted that the Bitcoin price is currently sitting at a critical technical area where two key support levels are converging. He said that these supports include an established ascending trendline pointing toward $79,418 and a liquidity zone around the $77,300 level.
According to him, this ascending trendline has guided Bitcoin’s price action since it reached $65,000in early April. The chart also clearly shows that every major swing high within BTC’s latest recovery has respected this trendline, making it a consistently tested support area throughout the upward move. Source: Chart from Ardi on X
As a result, Ardi emphasized that this trendline has become a critical zone for the market to watch, especially as Bitcoin is now approaching a decisive point where price could either break above or below the support. He also noted that every rally since the $65,000 level was gained from key liquidity zonesfound on this ascending trendline.
Because of this, he believes that as long as the trendline holds, Bitcoin’s broader bullish structurewill remain intact. Moreover, if the cryptocurrency can break above the trendline at $79,410, it could extend its move higher. Analyst Predicts Possible Price Flush To $68,000
For his bearish outlook, Ardi explained that if Bitcoin loses the $77,300 support level, it could mark the first clear breakdown toward a decline to lower levels. He noted that this would invalidate BTC’s bullish structure and signal a major shift in momentum. Related Reading Analyst Predicts Bitcoin Price Is Going To $200,000, Reveals When To Buy 1 week ago
From there, he expects BTC’s price to move into deeper liquidity pockets below current levels. He pointed to a potential healthy retest around $76,000, followed by a pullback near $73,600 if selling pressure persists. If Bitcoin breaks this area, he believesthat the cryptocurrency could turn bearish, potentially driving the price back toward $68,000. BTC trading at $77,255 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com