- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Falling Wedge Pushes Bitcoin to $98K as Bullish Channel Targets $99K Breakout
By: cryptosheadlines|2025/05/08 04:30:01
0
Share
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Bitcoin exit from its falling wedge pattern caused prices to move past $96,000 and hit $98,000 within several hours.The price sustained its position above fundamental trendlines revealing bullish momentum alongside short-term strength.Technical indicators show Bitcoin may continue its upward trajectory until prices reach the $99,000 range.Bitcoin has resumed an upward trend since breaking through key resistance marks and standing in favorable technical pattern conditions. Recent market behavior shows Bitcoin successfully breaking out of tight ranges as it forms and validates a falling wedge pattern. According to World of Charts analysts, their technical observations show BTC stayed above its potential downside break and climbed past $96,000 at the start of May 7, 2025.Falling Wedge Pattern Confirmed Ahead of $98K BreakBitcoin has sustained its position between $93,500 and $94,800 this week as it tested lower support levels multiple times before a definite breakout occurred. A falling wedge pattern appeared during this stage as price moved upward. This structure typically indicates a bullish reversal signal.Source:(X)The price accelerated sharply when BTC exceeded the resistance area of the wedge formation. The TradingView charts indicate Bitcoin recovered fast to reach prices above $96,000. After analysts predicted $98,000, this price level materialized shortly after traders verified the trend pattern.Price Recovery Holds Above Key TrendlinesBitcoin maintained stable price action above the wedge’s upper trendline after the breakout which signaled robust demand at this range. Visual data shows BTC upholding the trend channel while staying clear from potential lower support area retests.Bitcoin pushed past the downward trend that started in early May. The hourly chart from May 6 displayed Bitcoin reaching its peak price at $98,000. A challenge at $97,511.91 led to a brief breakthrough of this resistance level in alignment with near-term market projections.Short-Term Bias Aligns with Targeted Upside RangeSource:(X)Technical indicators continue to point toward a potential push into the $98,000 to $99,000 range if current volumes hold steady. The price structure, confirmed by both the hourly and 2-hour charts, remains inside an ascending channel that has supported BTC’s trend since April 21. Expert analysts confirm that effective assessment of this price shift requires sustained application of chart analysis techniques. According to World of Charts analysis, proper identification of even small structures such as falling wedges provides valuable clues about upcoming price movements. Bitcoin’s value currently sits above $96,700 in its current short-term bullish territory.Source link
You may also like
Aster Chain officially launches: defining a new era of on-chain privacy and transparency
The privacy-focused trading ecosystem Aster, supported by YZi Labs, announced today that the Aster Chain mainnet is officially launched.
Stargate Debut Illustrated: The 1.4 Trillion Computing Power Empire Dream, Awakened
One Year Plus, Zero Employees, Zero Code
A Billion-Dollar Life Buy Threat Triggered by an Iranian Missile
One Word Change by a Reporter Can Make Gambler Win Millions
BlackRock Launches ETHB: Ethereum ETF Enters 'Interest-Bearing Age'
The BlackRock ETHB is not the first Ethereum ETF in the United States, but it is taking the most standard route.
Nvidia Starts Putting Chips in the Road | Rewire News Evening Update
Huang Renxun said this is the "ChatGPT Moment of Autonomous Driving"
RootData: February 2026 Cryptocurrency Exchange Transparency Research Report
This month's cumulative spot trading volume on cryptocurrency exchanges has decreased slightly by 4.7% compared to January, which is the result of multiple factors including market conditions, the macro environment, and the Spring Festival holiday in Chinese-speaking regions.
「One and Done SEA」, so OpenSea chooses to wait a little longer
It's already Q1 2026, and we're still waiting for OpenSea to launch its token.
Ray Dalio: The Resolution of the US-Iran Conflict Is In the Strait of Hormuz
In war, the ability to endure pain is often more important than the ability to inflict pain.
In just 70 days, Polymarket easily raked in tens of millions in fees
The money printer is running, and the future ceiling only depends on two main variables.
Matrixdock is launching the Silver Token XAGm, built on the FRS standard as an on-chain silver-backed asset.
In the future, Matrixdock will continue to expand to include more high-quality real-world assets, driving the development of a more transparent and robust on-chain reserve asset system.
a16z: The Hardest Enterprise Software, and the Greatest Opportunity in AI
The world will continue to run on SAP, but AI will reshape it
Polymarket Market-Making Bible: Pricing Spread Formula
This article presents a comprehensive market-making pricing framework that will elevate you from "guesstimate pricing spread" to "formula-based pricing spread."
Ray Dalio: If the United States loses Hormuz, it will lose more than just a war
In war, who can endure pain better is often more important than who can inflict pain better.
How to Earn Up to 40% Rebates on Crypto Futures Trading (WEEX Trade to Earn IV Guide)
WEEX Trade to Earn IV lets traders earn up to 40% fee rebates in real time through a tiered miner system tied to trading activity. With additional boosts from referrals, it offers a more reliable alternative to airdrops as the crypto market gains momentum.
NVIDIA Plays Trillion-Dollar Chess Game | Rewire News Morning Edition
DGX Station, a desktop workstation capable of running trillion-parameter models
Real-time Update | NVIDIA GTC 2026 Conference Highlights Galore
The most anticipated annual event in the AI field, NVIDIA's GTC 2026 Conference, kicked off today in San Jose, California, USA.
People Behind Pokémon Go: Started with CIA's Money, Now Mapping the World for the Military AI
The security of data depends on whose hands it ends up in.
Huang Renxun GTC Speech Full Text: By 2027, Market Demand Will Exceed $1 Trillion; Everyone Should Develop an OpenClaw Strategy
The underlying business logic driving future growth will be the "Tokenomics of a Platform Factory."
Aster Chain officially launches: defining a new era of on-chain privacy and transparency
The privacy-focused trading ecosystem Aster, supported by YZi Labs, announced today that the Aster Chain mainnet is officially launched.
Stargate Debut Illustrated: The 1.4 Trillion Computing Power Empire Dream, Awakened
One Year Plus, Zero Employees, Zero Code
A Billion-Dollar Life Buy Threat Triggered by an Iranian Missile
One Word Change by a Reporter Can Make Gambler Win Millions
BlackRock Launches ETHB: Ethereum ETF Enters 'Interest-Bearing Age'
The BlackRock ETHB is not the first Ethereum ETF in the United States, but it is taking the most standard route.
Nvidia Starts Putting Chips in the Road | Rewire News Evening Update
Huang Renxun said this is the "ChatGPT Moment of Autonomous Driving"
RootData: February 2026 Cryptocurrency Exchange Transparency Research Report
This month's cumulative spot trading volume on cryptocurrency exchanges has decreased slightly by 4.7% compared to January, which is the result of multiple factors including market conditions, the macro environment, and the Spring Festival holiday in Chinese-speaking regions.
App