{"id":35869,"date":"2025-07-09T07:01:33","date_gmt":"2025-07-09T07:01:33","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35869"},"modified":"2025-07-09T07:01:33","modified_gmt":"2025-07-09T07:01:33","slug":"bitcoin-breaking-out-of-descending-broadening-wedge-can-bulls-push-btc-to-144000","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35869","title":{"rendered":"Bitcoin Breaking Out Of Descending Broadening Wedge \u2013 Can Bulls Push BTC To $144,000?"},"content":{"rendered":"
\n

Over the past week, Bitcoin (BTC) has been seesawing within a narrow price range of $107,000 to $110,000, offering little clarity on the direction of its next major move. However, the latest technical analysis suggests that the flagship cryptocurrency may be on the verge of a breakout to the upside, potentially eyeing a new all-time high (ATH).<\/p>\n

Bitcoin Set To Clear Descending Broadening Wedge<\/h2>\n

According to a recent X post by crypto trader Merlijn The Trader, Bitcoin appears poised to break out of a bullish descending broadening wedge pattern. The trader noted that if BTC can sustain support above the $104,000 level, it may target a potential high of $144,000.<\/p>\n

For the uninitiated, a descending broadening wedge is a bullish chart pattern formed by two diverging trendlines sloping downward, where price makes lower highs and lower lows over time. It suggests growing volatility and selling exhaustion, often leading to a breakout to the upside once resistance is broken.<\/p>\n

The following two-day chart shows BTC adhering to this pattern since early January 2025. A significant reversal occurred in April, when Bitcoin surged from a local low of around $76,000 to over $100,000 in just a few weeks.<\/p>\n

\"merlijn\"<\/p>\n

Meanwhile, fellow crypto analyst Ted Pillows shared a similar outlook. He shared the following weekly BTC chart, noting that Bitcoin just posted its highest-ever weekly close. He also highlighted that the Moving Average Convergence Divergence (MACD) indicator has formed a bullish cross \u2013 similar to the setup in Q4 2024.<\/p>\n

\"ted\"<\/p>\n

To explain, MACD bullish cross occurs when the MACD line \u2013 short-term moving average \u2013 crosses above the signal line\u00a0 \u2013 longer-term moving average \u2013 signaling a potential shift from bearish to bullish momentum. This crossover is often seen as an early indicator of a price uptrend or buying opportunity.<\/p>\n

Bitcoin experienced strong price appreciation in Q4 2024, climbing from approximately $58,000 on October 6 to $108,000 by December 15. At the time, the rally was also fueled by renewed market optimism following Republican candidate Donald Trump\u2019s victory in the US presidential election.<\/p>\n

BTC Price May Stall Temporarily<\/h2>\n

While Bitcoin seems poised<\/a> to set new ATHs in the near term, some analysts caution that a short pause in the uptrend may occur. For instance, seasoned analyst Ali Martinez observed that some long-term holders are beginning to take profits.<\/p>\n

\"ali\"<\/p>\n

Similarly, strong US employment data for June 2025 is likely<\/a> to force the US Federal Reserve (Fed) to delay interest rate cuts, which may result in a temporary price pullback in risk-on assets, including BTC.<\/p>\n

That said, Bitcoin\u2019s weekly RSI continues<\/a> to trend upward, offering bulls hope that a new high may be within reach. At press time, BTC is trading at $108,160, down 0.1% over the past 24 hours.<\/p>\n

\"bitcoin\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Over the past week, Bitcoin (BTC) has been seesawing within a narrow price range of $107,000 to $110,000, offering little clarity on the direction of its next major move. However, the latest technical analysis suggests that the flagship cryptocurrency may be on the verge of a breakout to the upside, potentially eyeing a new all-time […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35869","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35869"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35869\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}