The BTC price prediction turns constructive after price broke decisively out of a months-long consolidation pattern, touching levels not seen since early June. The move triggered the largest wave of forced short covering in crypto’s history, even bigger than the shorts wiped out during last October’s record crash.
BTC has spent since late May consolidating inside a symmetric triangle, bouncing between roughly $58,000 and $67,000 as the range steadily narrowed. Price broke sharply above that triangle’s upper boundary this week, surging from Wednesday’s low near $64,100 to touch nearly $69,900, a move of more than $5,700 in a single session.
The Parabolic SAR flipped bullish at $62,819.37, confirming the shift in short term trend. All four EMAs now sit below current price for the first time in months, with the 20-day at $64,919.13 marking the nearest support, followed by the 50-day at $64,720.72 and the 100-day at $66,446.68. The 200-day EMA at $71,479.33 sits just overhead and is the next real hurdle.
