Bitcoin traders are eyeing a short-term breakout attempt that could set the stage for the next leg. While bulls are focused on confirming a move above local resistance, some analysts believe this cycle could eventually lead to a contagion. $BTC Heading into the $160,000 to $180,000 range.
Bitcoin Attempts to Breakout on Lower Time Frames as Bulls Focus on Higher Levels
Bitcoin could be poised for a short-term breakout as the price remains above the descending resistance trendline that has capped recent gains.
According to analyst Satoshi Flipper, $BTC/$USDT The hourly chart shows Bitcoin emerging from a multi-day symmetrical triangle pattern after consolidating between a series of lows and highs. This breakout attempt suggests that buyers are trying to regain momentum.
$BTC/$USDT 1 hour chart. sauce: Satoshi Flipper (@SatoshiFlipper) via TradingView
This chart highlights that Bitcoin continues to record higher lows while trading above the previous trendline resistance. The highlighted consolidation zone suggests that the market is accepting prices above the breakout area rather than dropping immediately.
If buyers maintain control and confirm this move, Bitcoin could target the next resistance level near the mid-$60,000 level. Sustained strength above the breakout zone would strengthen the bullish trend and indicate that the recent consolidation phase may be over.
However, the breakout will remain unconfirmed until Bitcoin is able to sustain above the previous resistance line. If this movement is not sustained, the triangle structure could be retested and short-term volatility could rise again.
For now, traders are focused on whether Bitcoin can turn this short time frame breakout attempt into a broader rally, or if sellers will regain control.
Bitcoin analyst says $160,000 target still remains
Despite the recent volatility, Bitcoin could still head towards the $160,000 to $180,000 range, according to a chart shared by analyst Kira.
The chart shows that $BTC Breaking out of the long consolidation zone between about $55,000 and $70,000. After several failed attempts to sustain higher levels, this prediction suggests that Bitcoin could continue to rise if the breakout structure remains intact.
$BTC Price prediction chart. sauce: Killa (@KillaXBT)
Kira argued that short-term discussions around $50,000, $60,000, and $70,000 may become less important if Bitcoin continues to follow the broader bullish structure. The chart shows a possible advance towards $160,000, with the upper area around $180,000 marked as the next major target zone.
However, this movement is only a prediction and is not a confirmed result. Bitcoin will need to maintain its previous range and maintain its momentum before the $160,000 scenario becomes more likely.
For now, traders $BTC A breakout from the $55,000 to $70,000 range can be turned into a sustained move towards new cycle highs.
