The post Bitcoin Faces Critical Test at Weekly MA50 Amid Rising Wedge appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
Bitcoin’s MA50 at $75.7K is a key support—holding it could fuel a rally to $120K, while breaking it may trigger a drop to $54K–$55K.
BTC trades within a rising wedge; a bounce from MA50 keeps the uptrend intact, but breakdown could shift momentum to bearish.
Despite a 4.19% dip, Bitcoin’s long-term bullish trend holds as long as it stays within the ascending channel, with MA50 as key support.
Bitcoin is within a rising wedge on the weekly timeframe. According to Captain Faibik’s tweet, Bitcoin’s 50-week moving average (MA50) at $75.7K is a key support level. If this level holds, Bitcoin could rally toward $120K. However, a breakdown could trigger a retest of the $54K–$55K support zone.
Bitcoin’s Technical Structure Remains Intact
Bitcoin CME Futures show price action confined within an ascending channel. Two parallel trendlines contain fluctuations, reflecting a structured market movement. The price recently faced resistance at the upper boundary and retraced downward.
Source: Captain Faibik
The lower trendline is now a significant level of support. Traders have previously defended the area, leading to strong bounces. Bitcoin is now trading at $84,490, a 4.19% loss in the current session. The 50-week MA slopes upward, confirming the long-term bullish configuration.
Bitcoin’s future trajectory depends on its reaction to the MA50. A bounce from this level could drive the price higher. The upper trendline resistance could be the next target, potentially pushing Bitcoin beyond $100K.
However, a breakdown below MA50 could shift momentum. If selling pressure intensifies, Bitcoin might retest the $54K–$55K support zone. This level previously acted as a strong demand area, making it a key point for traders.
Bitcoin is still in the uptrend despite the recent drop. The creation of a rising wedge is a sign of a potential breakthrough. Additionally, as long as Bitcoin is still within the channel of rising price action, the long-term trend is still positive. The bullish picture is also supplemented by dynamic support from the 50-week MA. However, mood can easily turn around if this point is broken.
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