Price Analysis View Non-AMP

Bitcoin Price Consolidates for More than 70 Days: Here is When We Can Expect a Bullish Breakout!

Published by
Sahana Vibhute

The Bitcoin price continued to decline even after halving and erasing the maximum gains incurred after the approval of the Bitcoin ETF. Moreover, it is also one of the worst performances of Bitcoin after halving since its inception. In such trading scenarios, a minor rebound may increase bullish sentiments among market participants. 

Therefore, with the latest price action, the BTC price is now expected to rise beyond $65,000, but the bearish possibility may continue to prevail. 

Bitcoin bounces from the lows below $57,000 and after maintaining an ascending consolidation, it leaps beyond $63,000 amid bullish news. Therefore, the traders are now waiting for a price appreciation that may lift the levels towards local highs. In the middle of the bullish scenario, there is a small possibility of a bearish continuation as the BTC price keeps up its trade within a falling wedge.

As mentioned above, the Bitcoin price is trading within a falling wedge, and now that market participants expect a breakout from the upper resistance, a bearish rejection may make its way out. It is worth noting that the Gaussian Channel has turned bearish as the price rises to test the upper resistance of the wedge. Besides, the RSI continues to trade within the lower ranges, indicating less strength for the rally as the bulls remain less active. 

Hence, the Bitcoin price may continue to trade within the range of $62,900 and $63,400 for some more time, but beyond that, another bearish spell appears to be imminent. Having said that, the bearish scenario for the token continues to prevail, with bearish targets below $60,000. Here is where the BTC price may find its interim lows, which could attract fresh bullish action and activity. 

Also Check Out: Sell Trade Triggered for Bitcoin, While Ethereum Appears to be Poised to Mark Lows Below BTC

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

DOGE to $4? Dogecoin Plots a Comeback, While $0.20 Rival Token Shows Prospects of a 14560% Surge

Dogecoin has shown a 9.74% daily growth to reach $0.2021 in trading value and experts…

April 21, 2025

Top Altcoins to Buy Before the Next Market Surge

With the crypto market showing signs of renewed bullish momentum, investors are looking to position…

April 21, 2025

XDC Network Price Prediction 2025, 2026 – 2030: Is XDC Price Good Investment?

Story Highlights The XDC Price today is . The XDC Network price could hit a…

April 21, 2025

This Altcoin May be the Next 100x Gem, Which Could Thrive in 2025

The crypto markets initiated the weekly trade with decent gains while Bitcoin price surged above…

April 21, 2025

Stellar Price Prediction 2025, 2026 – 2030: Will The XLM Coin Reach $1?

Story Highlights The live price of the Stellar crypto is . XLM price could reach…

April 21, 2025

Pi Network Price Prediction 2025, 2026 – 2030: Why Is Pi Coin Dropping?

Story Highlights The Pi Network price today is PI price could reach a maximum value…

April 21, 2025