Bitcoin Price Prediction: BTC Price Reclaims 10-Day SMA, Wedge Pattern Points to Possible $100K Move

After consolidating near $89,000, Bitcoin has regained strength by closing above its 10-day simple moving average (SMA). Analysts note that reclaiming higher support levels could enable further gains, but caution that monitoring critical technical indicators is essential for navigating short-term volatility.

Falling Wedge Pattern Shows Potential Upside

Bitcoin’s daily chart currently exhibits a falling wedge formation, according to cryptocurrency analyst Super฿ro. This pattern, forming near $89,000, can signal a potential upward move if prices break above the wedge’s upper trendline. The recent close above the 10-day SMA at roughly $88,700 indicates short-term buying interest.

Bitcoin (BTC) shows bullish momentum, eyeing a wedge breakout but needs 50-day SMA confirmation to avoid lower support tests. Source: Super฿ro via X

“The close above the 10 SMA is a positive sign, but until it recovers the 50 SMA, we can’t rule out another retest of lower bounds,” Super฿ro explained. The 50-day SMA is widely regarded as a structural support level, often acting as a reference point for medium-term market trend assessment.

While wedge patterns have historically favored upward moves in prior BTC cycles, the magnitude and likelihood of a breakout depend on volume confirmation, broader market trends, and macroeconomic conditions. Traders are advised to treat such patterns as potential signals rather than guarantees.

Short-Term Pullback Could Be Healthy

Intraday trading data places Bitcoin near the 0.618 Fibonacci retracement, a level where sellers often step in during corrections. Analysts describe this as a natural pause rather than an outright reversal.

Bitcoin pulls back toward $87K after hitting 0.618 Fibonacci resistance, potentially forming a consolidation before a bullish breakout. Source: The_Alchemist_T on TradingView

“Rotation toward $87,000 could allow Bitcoin to consolidate in an equilibrium-style pattern, potentially forming a triangle,” noted technical analysts. Triangle patterns often precede expansion moves, providing a framework for gauging subsequent price action. If support holds, the next target could align with the range mean of the broader trading channel.

Bullish Momentum Needs Confirmation

Bitcoin’s intraday chart has respected an ascending channel, reacting positively to bullish order blocks—areas where previous buying activity may influence new entries. Confirmation levels are observed near $88,100, with potential upside toward $88,800 and $90,300.

BTCUSD trades bullishly in an ascending channel, with buy zones at 87,500–88,100 and targets near 88,800 and 90,300. Source: ExpertTraderASK on TradingView

“Trend favors the bulls as long as market structure holds,” analysts said, underscoring the importance of patience and risk management. A daily close below the wedge’s lower boundary or a break below $84,000 could invalidate the bullish scenario.

Contrasting Historical Analogies

Some analysts draw historical parallels to Jesse Livermore’s 1929 stock market patterns, suggesting a possible retracement toward $30,000 before a future rally.

Analysts link Bitcoin to 1929 patterns, forecasting a possible $30K drop in 2026, though its halving cycles and ETF support cast doubt on this scenario. Source: Lofty via X

While intriguing, these analogies remain speculative. Critics emphasize that Bitcoin’s unique 4-year halving cycles and ETF liquidity mechanisms differentiate it from traditional equity markets, limiting the direct applicability of historical stock comparisons.

Looking Ahead: Outlook for Bitcoin Price Today and Beyond

With Bitcoin maintaining support above key levels and showing strength in bullish patterns, a conditional breakout toward $100K remains plausible. However, traders are encouraged to consider both upside potential and structural risks, including pullbacks to $87,000 or lower.

Bitcoin was trading at around $88,148.050, down 1.04% in the last 24 hours at press time. Source: Bitcoin price via Brave New Coin

As of today, the Bitcoin price is closely tracked near $89,000, reflecting a market balancing consolidation and potential breakout momentum. Investors and traders should monitor SMA levels, Fibonacci retracements, order block responses, and volume signals to make informed decisions within a measured risk framework.