{"id":165173,"date":"2026-05-13T18:00:31","date_gmt":"2026-05-13T18:00:31","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=165173"},"modified":"2026-05-13T18:00:31","modified_gmt":"2026-05-13T18:00:31","slug":"bitcoin-just-entered-a-deceptive-territory-heres-what-you-should-know","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=165173","title":{"rendered":"Bitcoin Just Entered A Deceptive Territory, Here\u2019s What You Should Know"},"content":{"rendered":"

Bitcoin\u2019s recent price behavior has been everything the bulls hoped for<\/a>, and that may be precisely the problem. Since bottoming out around $63,000 in early April, Bitcoin has posted a sequence of higher highs and higher lows and has now reclaimed <\/a>$80,000.\u00a0The structure looks bullish. However, technical analysis shows that Bitcoin has now entered into<\/a> deceptive territory.<\/p>\n

Bitcoin\u2019s Uptrend May Be Hiding A Compression Phase<\/h2>\n

Bitcoin\u2019s price action is now forming an interesting but deceptive pattern. The pattern in question is a rising wedge that has been forming on Bitcoin\u2019s daily chart since February. The setup was highlighted by<\/a> crypto analyst Merlijn The Trader, who described Bitcoin\u2019s current pattern as \u201cthe most deceptive pattern in crypto.\u201d His chart places Bitcoin near the upper end of the wedge, with the $84,000 area acting as a key rejection zone.<\/p>\n

A rising wedge is formed when price action grinds upward along two converging trendlines, printing higher highs and higher lows in a narrowing channel. The pattern resembles an upward price trend where the market constantly hits higher levels and never falls below prior price lows before bouncing back on the surface. However, a rising wedge is known to resolve more bearishly than bullishly.<\/p>\n

The chart shared by Merlijn shows Bitcoin pushing upward inside this structure, with the upper wedge boundary sitting around $84,000. That area is the zone where bulls may face their biggest test.<\/p>\n

That makes the next move around the $80,000 to $84,000 area very important.<\/a> A clean move above the upper boundary would weaken the bearish wedge argument. A rejection around $84,000, followed by a breakdown under $80,000, would open up the path to lower price levels.<\/p>\n\n

Bitcoin Price Chart. Source: @MerlijnTrader On X<\/a><\/p>\n

Crash Below $60,000?<\/h2>\n

The $80,000 price level is now carrying both psychological and technical weight. Bitcoin recently reclaimed this level for the first time in months, helped by improving market sentiment.\u00a0<\/a><\/p>\n

Merlijn\u2019s chart turns that same level into the breakdown trigger. According to the outlook, a break below $80,000 would confirm weakness inside the wedge and open the way for a move down to $56,000. This does not mean Bitcoin is guaranteed to fall there, but it shows where the bearish projection comes from if the wedge resolves to the downside.<\/p>\n

At the time of writing, Bitcoin is trading at $80,920 after moving between $79,879 and $81,227 over the past 24 hours. This narrow range shows that buyers are still active around the $80,000 level, preventing a clean breakdown<\/a> below the zone for now.\u00a0<\/p>\n

The price action has also kept Bitcoin from showing any major sign of distribution, <\/a>as support continues to hold near the lower end of the range. All that needs to happen now for bullish momentum is a weekly close above $84,000. However, a weekly close below $80,000 could shift the setup in favor of the bearish path.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s recent price behavior has been everything the bulls hoped for, and that may be precisely the problem. Since bottoming out around $63,000 in early April, Bitcoin has posted a sequence of higher highs and higher lows and has now reclaimed $80,000.\u00a0The structure looks bullish. However, technical analysis shows that Bitcoin has now entered into […]<\/p>\n","protected":false},"author":0,"featured_media":165174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-165173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/165173"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=165173"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/165173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/165174"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=165173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=165173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=165173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}