The pioneer cryptocurrency Bitcoin entered April on a bullish note with an intraday urge of +3%. This upswing teases a price breakout above $85,000 and a resistance trendline of a renowned continuation pattern as an early signal of a trend reversal. But does BTC’s past performance support this rally?
Key Highlights:
- Bitcoin price is less than 2% short of challenging the resistance trendline of the falling wedge pattern.
- The coin price wavering below the daily Exponential Moving Average (50 and 200) indicates the broader trend bearish.
- Historical April data shows an average 12.2% return for Bitcoin over the past decade.
Bitcoin Price Eyes Breakout Amid April Optimism
As April 2025 kicks off, the crypto market shows mixed signals following a volatile Q1. Bitcoin opened the month with a modest +2.79% gain, attempting to recover from March’s minor setback of -2.3%.
However, historical trends suggest April has mainly acted as a bullish month for Bitcoin, reflecting an average +10 years return of 12.2%, while the median stands at 2.81%. According to CoinGlass data, BTC records notable gains in years like 2020 (+34.26%) and 2017 (+32.71%), but also significant declines, such as in 2022 (-17.3%) and 2024 (-14.76%).
While the past performance alone cannot guarantee an uptrend, it could bring our focus to particular patterns and predict near-term trends.
BTC Price Hints Major Brekakdout head
Since January 2025, the Bitcoin price has projected a declining trend resonating with two converging trendlines of a falling wedge pattern. The charset setup is commonly spotted in an established uptrend, providing buyers with the necessary breakout to recuperate bullish momentum.
With today’s price jump, the BTC price teases a bullish breakout from the 200-day EMA slope and resistance trendline of the aforementioned resistance trend. A successful flip of the overhead resistance into support will bolster a rally to $99,860, followed by a chase toward a new high.
Alternatively, if the sellers continue to defend the resistance trendline with overhead supply, the BTC price could enter another correction trend potentially targeting a drive below $75,000.
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