The post Analyst Spots Pattern For Next Big Move appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) price is regaining its bullish momentum after surging by 5% in 24 hours to trade at $87,638 at press time. Despite these gains, the sentiment remains gloomy with the sentiment index showing traders are in a state of extreme fear. Moreover, several indicators suggest BTC could struggle to sustain the recent gains, hence the question: will Bitcoin price rally to $100,000 or drop to $70,000? Bitcoin (BTC) Retakes $87,000 as Market Sell-Off Subsides Bitcoin rebounded sharply on Wednesday, recovering from a turbulent 48-hour sell-off triggered by market fears as Trump announced commencement of 25% tariffs on US imports from Canada and Mexico. Investors had withdrawn capital from risk assets following the former president’s announcement on Monday, leading BTC to slump to $82,000, its lowest level in over two weeks. However, as broader market sentiment stabilized, Bitcoin swiftly reclaimed lost ground, surging 9% in the last eight hours to trade at $87,300 at press time. BTC/USD: 4-hour Chart The BTC/USD 4-hour chart reveals a strong relief rally, with price action bouncing off key support at $82,000 and reclaiming the critical $87,000 resistance level. The rapid move suggests aggressive short covering, as traders who had bet against Bitcoin unwind their positions. However, spot market volumes remain moderate, indicating that fresh bullish momentum has yet to fully materialize. Despite the recovery, BTC price remains vulnerable to renewed selling pressure if macroeconomic fears persist. Failure to hold above $87,000 could see BTC retest support at $83,500, while a decisive breakout above $88,500 would position the market for a potential retest of the psychological $90,000 barrier. The next few sessions will be crucial in determining whether this rebound holds or fades into further volatility. Bitcoin Long positions holders booked 74% of total market liquidations While Bitcoin’s price rebounded 5% to reclaim the $87,000…

---

Filed under: News - @ March 5, 2025 12:26 pm