Bitcoin (BTC) May Be On The Verge of a Significant Bull Run, According to BTCEarth

Bitcoin may be on the verge of a significant bull run, according to crypto analyst BTCEarth. In his recent Bitcoin analysis, the analyst highlighted Bitcoin price's stability at a critical support level.

Crypto analyst BTCEarth believes that Bitcoin (BTC) may be on the verge of a significant bull run. In his recent Bitcoin analysis, the analyst highlighted the stability of Bitcoin price at a critical support zone.

Key Support Zone Signals Bullish Momentum

According to BTCEarth, a "long-standing blue support line" is crucial. This level was established during the "Trump rally breakout," and it has been repeatedly respected by Bitcoin price. Recent touches at $74,434 and $74,588 attest to its importance. "The current structure suggests a possible bottom formation near this zone, supported by volume and historical price behavior," explained the analyst.

Further fueling the optimism, Bitcoin is currently evolving within a falling wedge pattern—a classic technical setup that often signals bullish breakouts. 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 Identifies Resistance Levels and Long-Term Targets

As Bitcoin gears up for potential gains, BTCEarth identified key zones to watch. 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.

"The price stabilization above this critical support zone is an encouraging sign for a potential breakout. However, traders should await confirmation of a breakout above Line E to expect a sustained upward trend. If validated, this move could propel Bitcoin toward uncharted highs in its next bullish cycle," concluded BTCEarth.

Bitcoin Analysis of the last 24 Hours: Bitcoin Breaches $85K

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 ot 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 breakout. Around 00:30 UTC on April 13, Bitcoin tested the resistance, but soon faced a reversal and dropped to the support.