Bitcoin Price Battles Resistance at $85,300 Amidst Cautious Optimism

Despite a slight dip below the crucial $85,300 level, Bitcoin’s future remains unclear. The price action reveals an intriguing ascending wedge pattern, hinting at a potential shift in momentum towards higher price levels, potentially reaching the $105,000 to $110,000 mark. However, this upward trajectory is not entirely without uncertainty. Market analysts are observing a cautious optimism, with short-term trading activity exhibiting a lack of substantial volume during the breakout. This suggests that the momentum behind the price surge may be still pending confirmation and validation.