The Bitcoin price has generally been going sideways and up since the $80,000 low. Is the bottom still forming, and when could Bitcoin finally break out of its current bear flag?
Decision time for the $BTC price is approaching
Source: TradingView
The short-term chart for $BTC shows how the price action is still grinding sideways, but with a slight bias to the upside. Two downtrend lines are shown, given that there is the possibility that if one goes by the candle wicks, the breakout may not even have happened yet. That said, the price is starting to tap against the $94,000 horizontal resistance. The outer downtrend line is now below this.
From the bear’s perspective, the price is still undulating within a bear flag. These flags mostly break downwards, so with the price unable to get above $94,000, it could instead fall back to the bottom of the bear flag But then again, providing huge support at the bottom of the flag is the major trendline.
Either the bulls or the bears are going to have to give way, and that point in time is approaching soon, as the space between the $94,000 horizontal resistance, and the major trendline closes.
Bulls expect a surge
Source: TradingView
Zooming out a bit further into the daily time frame, the breakout does look legitimate, together with the confirmation of the breakout. The main issue, at least for investors and traders, is that the $BTC price is not doing a lot. There’s a long way to go to get back to the all-time high so some sort of a surge is perhaps expected.
The indicators at the bottom of the chart are well-positioned for a surge. The Stochastic RSI indicators are bouncing at the top of their range, and could continue to do so. The RSI indicator is respecting the new uptrend and is heading higher.
Room for one more weekly candle before breakout?
Source: TradingView
The weekly time frame does seem to suggest that a bottom is forming for the $BTC price. If one looks left at the previous preparation for the breakout of the falling wedge, it can be seen that there was rather more bottoming price action. That said, there was a lot more room for this to take place. Currently, in order to stay above the major trendline, there is only room for one more weekly candle
These are the two probable scenarios: First, the price breaks out definitively either this or next week. Second, the price falls down and through the major trendline. Yes, there are varieties of the above, but generally these are the two options.
Given that the breakout needs to happen soon, and that the Stochastic RSI indicators are angled upwards, and near to the 20.00 level, the higher probability is that the price breaks out to the upside. By the end of next week we should know for certain.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The New York Times reignites the “Satoshi identity mystery”; after Adam Back was targeted, he quickly clarified
Author: Nancy, PANews
Satoshi Nakamoto’s real identity remains the mystery that has continued for 17 years in the crypto world. Guesses surrounding this pseudonym have never stopped—candidates ranging from cryptographers to company founders have come and gone, yet there has always been a lack of decisive evidence.
Recently, The New York Times published a 10,000-plus-word investigation. Based on multiple comparisons drawn from language style, technical paths, and historical context, it ranked Blockstream CEO Adam Back as the strongest candidate for Satoshi Nakamoto. However, this claim was quickly and explicitly denied by Back himself, and the relevant arguments were widely questioned by the industry as difficult to substantiate.
Satoshi Nakamoto identity controversy flares up again; the 10,000-plus-word investigation targets Adam Back
In this investigation, New York Times reporter John Carreyrou spent more than a year deeply sorting through decades of archives and the cypherpunk email mailing lists to
区块客40m ago
Morgan Stanley Bitcoin ETF Drives 3-Fold Impact as 16,000 Advisors Open Path to Multi-Billion Demand
Bitcoin demand is set to expand rapidly as Morgan Stanley deploys its 16,000 advisors and launches a low-cost ETF, driving institutional inflows and strengthening crypto’s position in mainstream portfolios.
Key Takeaways:
Morgan Stanley’s 16,000 advisors unlock major bitcoin demand, driving
Coinpedia5h ago
DWF Labs Co-Founder: The current market is boring, but it hasn’t disappeared—builders or investors still have a lot to do.
DWF Labs co-founder Andrei Grachev said the market is currently in a “boring” phase, with many important activities quietly underway. He advised investors to stay patient and look for a better timing. He emphasized that opportunities still exist in the market—such as holding Bitcoin or participating in altcoins—and urged retail investors to keep learning and remain optimistic.
GateNews5h ago
Researchers propose a transaction scheme for quantum-resistant Bitcoin without needing a fork
Gate News message, on April 12, a researcher proposed a transaction scheme that enables quantum-resilient protection for Bitcoin without requiring a fork. At present, the quantum computing threat to Bitcoin is still at the theoretical level. Meanwhile, tech companies such as Google and Cloudflare have already begun preparing countermeasures and set a target timeline to complete the migration of quantum cryptography after 2029.
GateNews6h ago
Contract whale “sets 10 big targets first” — the short position is up $3.21 million; the BTC short opening price is $71,554.61.
Gate News message, April 12, according to on-chain analyst Ai Yi (@ai_9684xtpa) statistics, the short positions of the contract whale “first set 10 big targets” (@Jason60704294) are currently up $3.21 million. Of this, the BTC short positions are 2,567.49 BTC, with an opening price of $71,554.61, and an unrealized profit of $1.19M; the ETH short positions are 38,465.22 ETH, with an opening price of $2,248.74, and an unrealized profit of $2.03M.
GateNews6h ago
