Bitcoin Price Analysis

• Bitcoin’s price at $87,433 could break down to $80K.
• A rising wedge pattern suggests a potential Bitcoin pullback.
• Bitcoin’s price movement is testing a crucial $87K support level.

After a detailed study of Bitcoin (BTC) price charts, an emerging pattern presents startling possibilities for price changes in the coming days. By March 27, 2025, Bitcoin is forming an extraordinarily high rising wedge, a classical technical pattern known to predict breakdown situations. Currently at $87,433, this price level marks the upper end of the wedge pattern, suggesting that the trend may be nearing its peak. A breakdown is likely, with a pullback expected in the $80,000-$70,000 range.

> #Bitcoin forming a massive rising wedge on the daily chart, and yet people ignoring it. The breakdown is coming close, it will happen in the next few days
> — Doctor Profit 🇨🇭 (@DrProfitCrypto) March 27, 2025

Owing to the ascending line in the wedge, buyers are attempting to push up the price; however, the price continues to create new highs and higher lows in a narrowing range, indicating a decline in bullish strength. Traders and analysts are watching closely, as the wedge could lead to a breakdown due to this pattern’s typical behavior. A rising wedge resembles a triangle where the support and resistance lines converge at a tight angle. A breakout below the lower trend line of the wedge typically results in a sharp downward movement.

Bitcoin Price Behavior and Market Sentiment

The pattern suggests Bitcoin’s attempts to gain upward momentum despite the rising wedge. Since the beginning of 2025, Bitcoin’s price has fluctuated between $80,000 and $90,000, occasionally rallying above the $90,000 mark. The formation of the wedge indicates increasing seller pressure. Traders are eyeing this market closely as Bitcoin’s price nears the lower boundary of the wedge. A drop below this level could signify the bulls’ loss of strength, pushing prices further south.

The 50-day simple moving average (SMA) is shown on the chart in purple, indicating some support as the price trades just above it. However, the formation of the rising wedge and its impending apex suggests that the price may need to test this support level again. A breakdown beyond this level may further weaken Bitcoin and lead to prices between $75,000-$70,000.

What Next for Bitcoin – Another Breakdown or Continuation?

The fate of the rising wedge heavily depends on Bitcoin’s behavior near the lower boundary in the coming days. If Bitcoin remains above significant support and breaks upwards through the wedge’s upper boundary, a bullish scenario may unfold, targeting prices of $95,000-$100,000. However, the current trend predominantly points toward a breakdown, potentially retesting $80,000 or even lower.

To assess Bitcoin’s immediate future accurately, some price movements must occur in the next few days. A breakdown from the wedge aligns with typical rising wedge characteristics in technical analysis.