Bitcoin’s Breakout From Falling Wedge: Will It Lead to a Major Rally?

• Bitcoin and Ethereum bounced off crucial 4-hour 200 MA/EMA levels, suggesting possible bullish support in the market.
• The market remains cautious as Bitcoin consolidates above $100K, awaiting signs of direction for its next big move.
• After breaking a falling wedge pattern, BTC hints at a potential rally, though retesting the breakout zone remains uncertain.

Daan Crypto Trades pointed out that Bitcoin and Ethereum have bounced off their 4-hour 200 MA/EMA levels, meaning both cryptocurrencies tested the important support level. These factors help in determining whether the market is trending up or down over short and medium periods. If the prices maintain these ranges, support may be good for the bulls. If it fails, the chances of the market falling become more likely.Bitcoin is currently consolidating and stays above the $100K level. The market is standing by before taking action, as it waits for some sign of trend. During these test moments for Bitcoin, the market seems unsettled, having little movement in either direction. There haven’t been any remarkable performances this week from any of the major crypto sectors.