Bitcoin's Price Stabilization Signals Potential Bull Run

Bitcoin is poised for a significant bull run, according to crypto analyst BTCEarth. The analyst's recent analysis highlighted Bitcoin's price stability at a critical support level, suggesting that the cryptocurrency could soon form a bottom and prepare for a bullish reversal. BTCEarth pointed to Bitcoin’s long-standing “blue support line,” established during the “Trump rally breakout,” as a crucial factor. The analyst noted that Bitcoin’s price has repeatedly respected this level, with recent touches at $74,434 and $74,588 reinforcing its importance. “The current structure suggests a possible bottom formation near this zone, supported by volume and historical price behavior,” BTCEarth explained.

Adding to the optimism, Bitcoin is currently trading within a falling wedge pattern—a classic technical setup that often signals bullish breakouts. According to BTCEarth, Line D serves as the base support, while Line E marks descending resistance. A confirmed breakout above Line E, sustained over multiple daily candle closes, would validate the pattern and signal a bullish reversal.

BTCEarth’s Bitcoin analysis identified key zones to watch as it gears up for potential gains. The bottom between $74,000 and $75,000 offers an attractive opportunity for buyers. Immediate resistance lies at $80,000, while stronger resistance between $86,000 and $88,000 could be a hurdle. Beyond these levels, the psychological milestone of $100,000 is still both a technical and emotional target for traders.

BTCEarth concluded that the price stabilization above the critical support zone is an encouraging sign for a potential Bitcoin breakout. However, he cautioned that traders should wait for confirmation of a breakout above Line E before expecting a sustained upward trend. If validated, this move could propel Bitcoin toward uncharted highs in its next bullish cycle.

Bitcoin started trading at a price of $83,330 yesterday, continuing on the downtrend from the previous day. The downtrend continued until Bitcoin eventually found support at $82,760. With the RSI now indicating overbought conditions, an upward trend followed. The trend was supported by a golden cross as the Bitcoin price ascended to test the $84,100 resistance. The RSI reached the overbought zone and a slight correction followed, but Bitcoin stabilized at $83,500. At 13:40 UTC, thanks to the 11:00 UTC golden cross widening, Bitcoin formed a steep upward channel, going up to $85,340. The market was once again overbought.

A correctional phase followed. But Bitcoin was able to reverse the trend soon and continued its upward climb. By 20:45 UTC, Bitcoin tested the $85,850 resistance. With the buying pressure reaching exhaustion, Bitcoin dipped slightly, holding strong near the resistance. A trading range formed, with Bitcoin consolidating around the $85,350 mark. In the coming hours, Bitcoin would go on to test the $85,850 resistance twice, but would fail to break out. Around 00:30 UTC on April 13, Bitcoin tested the resistance, but soon faced a reversal and dropped to the support.

Bitcoin seems to be following a pattern. In the past few days, it has been forming a trading range, breaking out upward and then maintaining that level until another upward breakout occurs. If this pattern ensues, we may be looking at an $87k target today. But it is worth noting that as of the last update, a death cross had formed, and Bitcoin looked ready to breach the support level. If that happens, the reversal should come pretty quickly, and we should see some upward movement right after. If the bullish pressure persists, the Bitcoin breakout could soon be a reality.