Bitcoin (BTC) has rated optimistic momentum and raised hope for the potential for $ 100,000 after US President Donald Trump announced a temporary suspension of tariffs on non -reproductive countries.
On April 9, the BTC/USD surged about 9%, and most of the losses that occurred at the beginning of the week were reversed to $ 83,000. By doing so, the pair has become closer to verifying the fallen wedge patterns formed on the daily chart since December 2024.
The falling wedge pattern is formed when the price is lowered to a low price within the range defined by the two convergence and descent trend line.
In a perfect scenario, the setting is solved when the price is destroyed by the top trend line, and it rises by the maximum distance between the top and lower trend lines.
BTC/USD daily price chart ft. Fall wedge brake out setting. Source: TradingView
As of April 9, the price of Bitcoin was limited within the fall wedge range, which was about $ 83,000 from the top trend line. If it is confirmed, the main goal of the BTC will be about $ 100,000 by June.
On the contrary, the rejection of the upper trend line increases the likelihood that Bitcoin will retreat deeper in the wedge pattern and can potentially slide toward the vertex near $ 71,100.
source: Trader Merlin
After testing $ 71,100, the most conservative goal of BTC is still about $ 91,500.
OnChain data supports $ 100,000 bitcoin outlook
Bitcoin’s recoil appears just before testing an important onchain support zone between $ 65,000 and $ 71,000.
In particular, the range of $ 65,000-71,000 is based on two important Bitcoin Metric and actual market average ($ 65,000).
Bitcoin short -term onchain cost -based band. Source: Glass Node
This metrics estimates the average price that current active investors have purchased Bitcoin. They filter out long -term or lost coins to provide relatively accurate pictures of cost standards for those who still participate in the market.
According to GlassNode analysts, Bitcoin has been dealing with about half of this price in the past, with more than half and half of this price, and has become a good indicator of whether the market is positive or negative.
“We are now a major concern for Bulls to join several on -chain price models, emphasizing the price range of $ 650,000 to $ 710,000.
“If you need to trade price below this range, the ultra -high -highs of the active investors will be in the shares, and it is likely to have a negative impact on the total emotions.”
relevant: Bitcoin is ‘completely separated’ despite tariff confusion, Adam says.
Bitcoin’s worst scenario is to reduce $ 50,000.
If you run below the $ 65,000-71,000 range, Bitcoin will soon get the probability of testing $ 100,000 soon. This reduction will also lead to less than 50 weeks index moving average (50 weeks EMA; Red Wave).
BTC/USD weekly price chart. Source: TradingView
As of April 9, the 50 -week EMA of $ 77,760 has historically been a dynamic support in the bull market, and it has become an important trend definition due to its resistance during the Bear Market.
If you lose its support, you can open the door for a steep fullback towards the 200 week EMA (The Blue Wave). Previous failures of less than 50 weeks of EMA resulted in similar reductions during the 2021-2022 and 2019-2020 Bear cycle.
On the other hand, rebounds increase the likelihood of re -test of $ 100,000.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.