Bitcoin just broke above $73,800 and the long-term downtrend trendline.
Clean break. Holding for two sessions now. The structure has shifted.
This is the breakout i was tracking. And it's playing out. But it's early. Very early.
The key now is whether Bitcoin can hold and build a base above the $73,000 to $73,800 band on the daily timeframe. That's what separates a confirmed breakout from a failed one.
As long as price continues to hold above this region and shows acceptance, the base case shifts toward continuation. Upside targets: $79,140, then $83,790.
At the same time, there's a developing sell-side setup on the lower timeframes. Not confirmed yet. But visible. If price fails to hold above $73,800, the breakout risks failing and we're looking at a move back toward $70,500.
That's the retest level. That's where the breakout gets validated or rejected.
The 200 EMA is trending downward near $83,200, aligning with the higher upside target region. RSI is around 62, showing strong momentum but still requiring confirmation through sustained price action.
full Bitcoin breakdown:
Support: $73,800
Resistance: $79,140
Direction: Neutral-Bullish
Upside Target: $79,140 & $83,790
Downside Target: $70,500
Bitcoin has delivered. The structure has shifted to neutral-bullish in the short term. But confirmation is still required. Holding above $73,800 is the line.