Bitcoin Breaking Out Of Descending Broadening Wedge – Can Bulls Push BTC To $144,000?

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). Bitcoin Set To Clear Descending Broadening Wedge 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. 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. 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. 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 – similar to the setup in Q4 2024. To explain, MACD bullish cross occurs when the MACD line – short-term moving average – crosses above the signal line  – longer-term moving average – 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. 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’s victory in the US presidential election. BTC Price May Stall Temporarily While Bitcoin seems poised 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. Similarly, strong US employment data for June 2025 is likely 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. That said, Bitcoin’s weekly RSI continues 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.

Bitcoin Finds Support Above 50-Day SMA, But Next Direction Remains Uncertain

Bitcoin is holding steady above its 50-day Simple Moving Average (SMA), showing signs of underlying strength despite a lack of clear directional momentum. With rising trading volume and mixed technical indicators, the next move could swing either way, keeping the market on edge. RSI Holds Neutral As Bitcoin Awaits A Clearer Signal According to Shaco AI, in a recent update on X, Bitcoin is currently hovering around $107,264.17, positioning itself just above two key moving averages. It’s nudging the 25-day SMA at $107,229.82 and holding slightly above the 50-day SMA, which sits at $107,040.81. This positioning reflects a mild bullish bias in recent sessions, keeping both bulls and bears on alert. Looking at momentum indicators, the Relative Strength Index (RSI) is resting at 53.36—firmly in neutral territory. This suggests that Bitcoin is neither overbought nor oversold at the moment, offering no strong directional clues as it keeps the market guessing. Furthermore, the Average Directional Index (ADX) adds to this indecisive mood, coming in at a soft 20.44. This low reading signals a weak trend, meaning there’s not enough force from bulls or bears to drive a clear breakout just yet. In other words, the market isn’t leaning heavily in either direction. Meanwhile, the Moving Average Convergence Divergence (MACD) remains in negative territory at -137.33. Although it isn’t signaling any strong downward momentum, traders may want to stay cautious and alert for any sudden shift in the current tone. Despite the technical indecision, market activity is picking up. Bitcoin’s recent trading volume has surged to 1903.51, well above the average of 1522.43. This uptick signals a rise in interest and participation, indicating that traders are actively positioning themselves in anticipation of Bitcoin’s next move. Critical Zones At Play As Market Prepares For A Directional Push Looking at key levels, Shaco AI highlighted that resistance is at $108,789.99, which seems to be a strong level to overcome. The level marks a significant ceiling for Bitcoin, and any attempt to push higher will need solid momentum to break through. On the other hand, support lies at $104,622.02. This support level will be critical in case the price begins to retreat, as a breakdown here could open the door for further downside. Based on current indicators, the analyst suggests it’s wise to keep an eye out for potential movement in either direction. With volume picking up, Bitcoin may soon test either the resistance above or fall back to support, depending on how momentum develops in the coming sessions.

Dogecoin Enters Distribution Phase After Crash Below $0.15, Next Steps Revealed

According to the latest Power of Three (PO3) H1 analysis by crypto market analyst Trader Tardigrade, Dogecoin (DOGE) has officially entered a distribution phase following a sharp breakdown below the critical $0.15 support. This move signals a shift in market dynamics, with Dogecoin’s next moves set to push its price toward new highs.  PO3 Pattern Confirms Dogecoin’s Next Moves Dogecoin’s chances of resuming its previous bullish run are rising fast, as a new chart analysis by Trader Tardigrade reveals that the top meme coin has just moved into the distribution phase of a key PO3 market structure. This development comes just after DOGE’s price broke down below the $0.15 mark earlier last month. However, the meme coin has since rebounded and is now hovering just slightly above that level at around $0.16.  Trader Tardigrade’s chart analysis confirms that Dogecoin is about to complete all three critical PO3 stages—Accumulation, Manipulation, and Distribution—on the 1-hour timeframe. This progression now sets the stage for its next move, signaling the potential beginning of a fresh upward breakout.  The PO3 sequence began with a tight consolidation zone marked by accumulation around June 25-26. This was followed by a sharp drop below the support level, marking the manipulation phase between June 27 and 28. This strategic shakeout, typically designed to trap late sellers and liquidate weak hands, pushed DOGE below the $0.15 threshold. However, instead of undergoing a continued downtrend, the meme coin’s price recovered slightly, reclaiming the lost range before initiating a strong rally on June 30.  The green-shaded area on the chart highlights the distribution phase, where Dogecoin’s bullish momentum has returned aggressively. Notably, price broke above short-term resistance levels and climbed toward $0.175, confirming the final stage of the PO3 structure and also reflecting growing buying pressure. This development implies that the recent crash was likely not indicative of market failure, but a possible setup for Dogecoin’s next bullish phase. Dogecoin MACD Bullish Cross Established In other news, Trader Tardigrade announced on X that Dogecoin has finally established a bullish Moving Average Convergence Divergence (MACD) crossover on the daily chart, signaling the first technical reversal in weeks after a prolonged downtrend. The analysis indicates that the crossover is now active, marking a potential shift in momentum from bearish to bullish.  This development follows weeks of sustained losses that began in early June, when a bearish MACD cross triggered a sharp breakdown from the $0.21 level. With the bearish cross potentially overturned, Dogecoin may be entering a renewed upward trend. As a result, Trader Tardigrade’s chart shows that the next upside target may extend above $0.28 in the coming weeks if DOGE continues to hold above key support while maintaining strong momentum.