Bitcoin Holding Pattern Could Suggest an Imminent Breakout
Bitcoin is moving very little right now and could be gearing up to go bullish this week as tariffs are on pause.
Quick overview
- Bitcoin has been holding steady around $84,000 for the past five days, indicating a potential upcoming price movement.
- The recent pause on tariffs by President Trump has allowed Bitcoin to recover from earlier declines, providing a chance for growth.
- Historically, when Bitcoin stabilizes, it tends to experience rapid price increases unless affected by external factors.
- With current market conditions, Bitcoin is expected to climb past $85,000 within the week.
Live BTC/USD Chart
Rarely does Bitcoin (BTC) hold steady, and when it does, that usually indicates that it is about to move quickly. For the past five days, Bitcoin has been holding close to $84,000.
We expect BTC to break out at any moment, gaining bullish momentum that is pushing it close to $85K. Its current price is $84,015 (BTC/USD), which is a high level compared to its performance in recent weeks. We have seen the coin dip as low as $74K this month as it was hit hard by news of heavy tariffs and a steep decline in the stock markets.
Now, as President Trump has placed a pause on many tariffs, Bitcoin and the stock market have been able to make a recovery. That pause is in effect for many of the promised tariffs, but they could come back into play later on. This has allowed Bitcoin to stop declining and have a chance to make up lost ground.
Historically when BTC slows down and settles into a holding pattern, it then shoots up rapidly unless it is pushed down by another factor. If there are no tariffs to worry about for now and the stock market is able to recover, then Bitcoin has room to make some headway.
Bitcoin Price Prediction
The tight trading range of Bitcoin for the last five days is unusual, and the coin is expected to break out very soon. Chairman of the Federal Reserve, Jerome Powell, said Wednesday that the markets are unstable right now and the Fed is not likely to intervene to try to stabilize them.
He said that the stock indices are in a stage where they are processing the tariff news and the overall volatility of the market. So, Bitcoin holders cannot hold out hope for the Fed to bail them out of the fragile position they are in right now.
The worst of the instability may be over for now, with a more stable market for the next three months. That would allow investors to better assess where they want to spend their money and what the future looks like for Bitcoin. We expect the coin to climb much higher in that time without being held down by new tariff policies.
Bitcoin is down just 0.01% over the last 24 hours and up 2.34% for the last week, so it is perfectly poised to climb higher this week. We should see the coin climb past $85K before the week is over.
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