Bitcoin is approaching a pivotal moment as it consolidates within an ascending triangle, a pattern that has historically preceded major price moves. Technical indicators and macroeconomic data suggest that the digital asset could see a 9% breakout if it surpasses key resistance levels. The cryptocurrency currently trades at $83,440, up 0.35% on the day.
Bitcoin has been moving within an ascending triangle, a bullish continuation pattern characterized by rising lows and a flat resistance level near $84,000. The repeated tests of this level suggest mounting buying pressure, increasing the likelihood of a breakout.
“#Bitcoin $BTC is consolidating within an ascending triangle. A breakout could lead to a 9% price move!”
analyst @ali_charts noted.
If Bitcoin clears the $84,000 resistance level with strong volume, technical projections suggest a move toward $91,500. However, failure to break through could result in a decline toward the lower trendline at $81,000, with a deeper pullback potentially reaching $76,000.
Liquidity Expansion Supports Bullish Outlook
Beyond technical patterns, macroeconomic factors may be fueling Bitcoin’s next move. The M2 Global Liquidity Index, which tracks the total supply of liquid money in the financial system, has rapidly risen. Historically, Bitcoin has followed liquidity trends with a lag, implying that recent monetary expansion could soon drive prices higher.
“Global liquidity is expanding fast! If past trends hold, #Bitcoin $BTC might catch up around mid-April,”
@ali_charts stated.
This observation aligns with previous cycles where liquidity surges preceded strong Bitcoin rallies. As central banks inject more capital into the financial system, investment assets—including cryptocurrencies—tend to benefit from increased demand.
The market is watching Bitcoin’s next move closely. A breakout above $84,000 could confirm the bullish pattern and set the stage for a 9% rally. If resistance holds, a retest of lower support levels may occur before another breakout attempt.
Bitcoin has historically responded to similar technical setups with strong price movements, and with macroeconomic conditions aligning in its favor, traders are positioning for potential volatility. If past trends repeat, Bitcoin could see a significant price move to the upside in the coming weeks, with mid-April emerging as a key timeframe for further gains.
