Signs Of Life For Bitcoin

Bitcoin has shown signs of life after a brutal six-month correction, rising from about $68k at the end of March to roughly $79k today. Technically, BTC has broken above the top of its downtrend channel formed off last year’s highs and has put in a series of higher lows since Feb. 24, suggesting a potential trend reversal and improved bullish momentum. Key near-term resistance is around $85k — a level that acted as support from November through January and may now cap initial rallies. If BTC sustains the breakout and clears $85k, further upside is likely; failure could see a retest of recent support levels.