The breakout point of the “W” formation featured on Bitcoin’s daily chart currently stands out as the key support band between $75,800 and $76,800. In recent days, BTC has been testing this zone from above, while the price remains above the relevant support level. In the chart highlighted by analysts, there is a potential for a rise in the target again if the critical support is maintained.
Decision Point After the Breakout in W Formation
After making two bottoms around $64,000 to $67,000 during the March-April decline, Bitcoin regained strength and rose above the neckline at $75,800. This zone was the breaking point of the structure called “W formation” in technical analysis and started a successful upward rally. BTC, which recently reached $ 82,000 levels, is currently testing whether it can get support from this critical neck line again.
The fact that the price remains above $ 75,811 in daily closings is considered by analysts as an important sign for the continuation of the upward trend.
In the chart shared by the analyst named Man of Bitcoin, it was stated that if the support zone is maintained, the next target could be price movements above $ 90,000. Moreover, a new barrier is emerging just above the resistance near $97,835.
However, if the end of the day closes below the support level, the “W formation” may become invalid and BTC may return to the correction process again.
Moving Average Support Continues
The importance of moving averages in maintaining Bitcoin’s rise also draws attention. According to the chart shared by Super฿ro, the price is trading around $76,769 after the pullback and is hovering near the 50- and 100-day exponential moving averages (EMA).
On the chart, the 50-day EMA is at $76,725 and the 100-day EMA is at $76,854. The fact that Bitcoin closed above these averages indicates that buying pressure continues in the short term. Moreover, on the simple moving average (SMA) side, the price is also above the 100-day SMA at $75,841.
The low levels of 2025 are also gathered in the same support band. Therefore, the $75,800 to $76,800 range stands out both technically and historically. According to the current chart, as long as BTC maintains this range, the retreat following the recent rises is considered a natural correction.
According to analysts, expectations for the $ 90,000 target in BTC remain valid as long as the support levels of both moving averages and the W formation are maintained. However, if important supports are broken downwards, the technical structure may weaken.
CryptoAppsy According to the current data reflected on the screens, Bitcoin is hovering around $ 76,973 and the hold in the support zone continues to be decisive for the direction of the market.
