Bitcoin is pressing into a tight decision zone after breaking an earlier resistance area near $71,500. Now, traders are watching whether the move can hold and reclaim the $74,000 level highlighted by Daan Crypto Trades.
Bitcoin Breaks Above $71,500 Resistance as Chart Signals Ascending Triangle
Bitcoin climbed above a key resistance zone and pushed into the low $73,000s on the daily BTCUSDT chart on Binance, according to a TradingView snapshot shared by market commentator TedPillows on X. The move followed weeks of tighter trading inside an ascending triangle, where higher lows pressed against a flat ceiling.
Bitcoin Ascending Triangle Breakout. Source: TedPillows
The chart shows a rising support line from early February and repeated rejections near the same horizontal level. As price returned to that area, buyers absorbed selling and kept each pullback shallower. That tightening range set up the breakout candle that cleared the top boundary and extended higher.
TedPillows said a daily close above $71,500 would keep the breakout intact and could open a path toward $80,000 within the month. The post framed $71,500 as the level to watch because it marks the former cap that previously stopped rallies.
Still, the same chart structure also highlights the risk area. If Bitcoin falls back below the former resistance after the breakout, the move can fade quickly as traders reassess the strength of the break and the market returns toward the prior range.
Bitcoin Eyes $74,000 Level as Traders Watch High Timeframe Break
Bitcoin traders are focusing on the $74,000 area as the next key level that could decide whether the broader uptrend resumes, according to analyst Daan Crypto Trades on X. He described $74,000 as the “big high timeframe level” needed for continuation.
A TradingView chart shared with the post shows Bitcoin trading below that zone after a sharp downswing, followed by a rebound attempt that failed to reclaim the prior breakdown area. The structure leaves $74,000 as a clear reference point because it lines up with a former pivot where price previously changed direction.
The chart also highlights how quickly momentum shifted after the earlier peak, with a steep decline and several large candles that widened the recent range. That volatility makes the next reclaim attempt more important, since repeated failures near the same level can keep sellers active while buyers wait for confirmation.
Daan’s view frames $74,000 as the line separating a bounce inside a broader pullback from a move that reopens higher levels on the larger timeframe. Until that area is recovered, the chart implies Bitcoin remains in a recovery phase rather than a confirmed continuation move.
Source: https://coinpaper.com/15188/bitcoin-price-prediction-as-71-5-k-breakout-targets-80-k
