Bitcoin Breaks Resistance, Breakout or Pullback?

The cryptocurrency market is showing signs of recovery after a sharp sell-off triggered by the escalating political tensions between Elon Musk and Donald Trump. Bitcoin (BTC) briefly dipped to $100,430 before rebounding. Today, it’s trading just shy of $105,000 as bulls attempt to regain control. Analyzing the 4-hour chart reveals that BTC has bounced strongly from the lower boundary of a broadening wedge pattern near $100,372. Now, it’s testing the upper resistance trendline of this pattern, currently hovering around $104,680. This region is crucial as it represents the zone where either a breakout or a rejection could dictate Bitcoin’s future direction.