Is Massive Rally Ahead? BTC on Track for First Kumo Breakout Since October

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The significance of a Kumo breakout Bears are getting crushed Advertisement Bitcoin, the flagship cryptocurrency, surged to an intraday high of $79,490 earlier today, currently flirting with the psychological $80,000 barrier. According to prominent trader Josh Olszewicz, the leading cryptocurrency is currently on the verge of its first daily Kumo breakout since October. 1D $BTC nearing the first kumo breakout since Oct (!) pic.twitter.com/1s6tpGvDUp — CarpeNoctom (@CarpeNoctom) April 26, 2026 The significance of a Kumo breakout "Kumo" (or "cloud") is the key component of the Ichimoku Kinko Hyo indicator. The cloud is formed by two leading moving averages. It acts as a dynamic zone of support and resistance. Advertisement A certain asset is considered to be in the middle of a bearish trend when the cloud acts as overhead resistance. The market enters a consolidation phase when the price is inside the cloud. At the same time, the price of a certain enters a likely uptrend when it breaks above the cloud. HOT Stories Ripple Vet Defends Controversial 2017 XRP Price Take XRP's Price Recovery Pattern Finally Finished, Ethereum (ETH) $3,000 Breakout Attempt Invalidated, Minor Shiba Inu (SHIB) Uptrend Continues: Crypto Market Review The one-day chart shared by Olszewicz shows that Bitcoin has been trapped in a grueling downtrend since its peak, remaining below a thick bearish red cloud. Every attempt to stage a new rally has been rejected so far. However, there is a glimmer of hope for the bulls. Bitcoin's price has now penetrated the bottom of the red cloud and is currently trading inside it. BTC is currently pressing directly against the upper boundary of the cloud. Advertisement You Might Also Like Sun, 04/26/2026 - 15:14 'Beat Goes On': Michael Saylor Hints at Buying More Bitcoin, but Don't Expect Billions This Time By Gamza Khanzadaev If Bitcoin manages to print a daily close above this top resistance line, it will confirm the first true Kumo breakout since October. Bears are getting crushed Meanwhile, there has been a significant wave of forced liquidations targeting traders betting against the market. According to the latest liquidation data from CoinGlass, the crypto market has witnessed $220.96 million in total liquidations over the past 24 hours. The vast majority of this carnage has fallen on short sellers. A staggering $186.64 million in short positions were wiped out in a 24-hour window. #Bitcoin Price Prediction