Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bearish Wedge Puts Bitcoin on Edge: Will $113K Hold or Break?

Bearish Wedge Puts Bitcoin on Edge: Will $113K Hold or Break?

CryptonewslandCryptonewsland2025/07/26 00:50
By:by Vee Peninah
  • Bitcoin’s daily chart reveals a rising wedge, a typically bearish formation suggesting the current uptrend may be losing steam. 
  • Despite recent declines, Bitcoin has held above the $115,259 support level. However, continued failure to break past $119,415 resistance limits upward momentum and keeps price action compressed within a narrow range.
  • A daily close below $113,000 is now the key technical threshold. Until this happens, the market remains in consolidation, but traders should expect increased volatility near this level.

Bitcoin is trading at $115,511 as of now after it declined by 4.3% over the last week. The move is gaining significant attention due to the formation of a rising wedge pattern in the BTC/USDT daily chart. 

A decline below the $113,000 mark on a day close could confirm this breakdown pattern, which may be a sign of a possible corrective move. The coin has had a 24-hour trading range of $115,259 and $119,415, and its $115,259 support level continues to be a major point to watch.

Rising Wedge Indicates Potential Weakness

The rising wedge structure is a key point of interest for technical analysts, as this pattern is often associated with a weakening uptrend. Notably, Bitcoin has struggled to build momentum since reaching recent highs, creating concerns about near-term price direction. 

Bearish Wedge Puts Bitcoin on Edge: Will $113K Hold or Break? image 0 Bearish Wedge Puts Bitcoin on Edge: Will $113K Hold or Break? image 1 Source: (X)

A confirmed breakdown below the wedge support would shift attention toward lower price targets. The failure to maintain the wedge could also increase volatility, with short-term moves becoming more pronounced around the $113,000 mark.

Resistance Challenges and Narrow Trading Range

Bitcoin has still been testing resistance at $119,415 but without a decisive breakout. The zone of resistance is now acting as a cap on price movements, limiting the upside. The inability to break through it comes as the weekly decline stretches 4.3%, an indicator of caution in the market. 

The $115,259-$119,415 range has been setting the tone for recent trading activities. Moreover, the upper wedge boundary highlights the consolidation price action that can lead to a breakout or breakdown in the future sessions.

Breakdown Confirmation Requires Daily Close Below $113,000

A significant confirmation point is the $113,000 level closely observed by traders as a potential breakdown point. The close below this threshold on an individual day would confirm the wedge pattern and may result in the correction. 

Prices move within the established structure until confirmation is witnessed. The market is showing signs of consolidating near current levels, and short-term trading behaviors are influenced by support and resistance.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!