BTC Price Breaks Wedge Pattern and Eyes $102K After Higher High

Bitcoin has made a higher high on the daily chart and is now waiting for a higher low to formIf the price holds support above $94000 it could begin moving toward the wedge breakout targetA move to $102000 may follow if the structure stays intact and confirms the start of a new uptrendBitcoin’s daily price chart shows signs of a confirmed trend shift, with a potential target near $102,000 in the coming weeks. The breakout from a descending broadening wedge, combined with a series of higher highs, marks the early stages of a new uptrend. The current market structure now hinges on whether Bitcoin can form a higher low to maintain momentum.Source: XBreak of Structure Marks the Shift From Downtrend to UptrendThe chart, published on May 4, 2025, by SuperBitcoinBro, maps a clear transition from a bearish phase into a bullish setup. The earlier downtrend included a sequence of lower highs (LH) and lower lows (LL), culminating in a deep correction. The structure shifted following a break of character and a higher high (HH), indicating bullish strength.During the downtrend, the price fell below the $90,000 level, forming a new low near $85,000. A confirmed change of character occurred when price action reversed and broke above the previous LH, establishing a new HH above $96,000. This transition invalidated the previous structure and suggested a reversal was underway.The descending wedge pattern played a key role in defining the current setup. A breakout from this wedge has historically led to aggressive price movement. With the price currently at $95,775, analysts are closely watching the next higher low (HL) to validate the new trend formation.Market Watching for Higher Low to Confirm Trend ContinuationTo sustain this uptrend, Bitcoin must now form a higher low above the previous structure break zone. If the price holds this level, it may resume upward movement toward the projected wedge target. The zone between $92,000 and $94,000 could act as a support area for this HL.Traders anticipate that the next move will either confirm the structure with a higher low or signal weakness if a breakdown occurs. SuperBitcoinBro stated that a move toward the $102,000 level is likely if this HL forms and holds. This would mark a clean break of the broadening wedge and continue the bullish sequence.If markets soften heading into the Federal Open Market Committee (FOMC) decision, a retest of lower levels is still possible. In this case, Bitcoin may revisit $90,000 or slightly below before making another attempt higher. The scenario will depend on broader macroeconomic factors and how they influence short-term demand.Will Bitcoin Reach $102K Before Setting a Final Higher Low?The current structure leaves one key question: can Bitcoin complete the higher low and extend the rally to $102,000? The price is showing signs of strength but still requires confirmation of structure to secure the trend. The daily candle behavior in the next week will be crucial for the market’s direction.SuperBitcoinBro noted that even a minor correction could align with the bull scenario if the HL forms above $90,000. This would still maintain the bullish pattern and preserve momentum. Market participants are now closely monitoring the price action to see if the structure holds or shifts again.