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Bitcoin (BTC<\/a>) eyed new April highs at the April 15 Wall Street open amid skepticism over BTC price strength.<\/p>\n BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD seeking to break through $86,000.<\/p>\n Continued strength through the weekend had set up the pair for an attack on levels closer to $90,000, these absent since early March.<\/p>\n Concerns over macroeconomic volatility, with the US trade war<\/a> at its center, nonetheless kept market participants from calling an end to the Bitcoin bull market correction.<\/p>\n \u201cIt’s funny watching sentiment shift so quickly – just days ago everyone was calling for 50k, now they’re rushing to flip bullish at the first green candle. This emotional rollercoaster is exactly why most traders lose money,\u201d trading resource Stockmoney Lizards wrote in part of its latest analysis<\/a> on X.<\/p>\n \u201cWhile short-term momentum appears bullish, we still face multiple resistance hurdles before confirming the correction is complete.\u201d<\/p><\/blockquote>\n BTC\/USDT perpetual contract 2-day chart. Source: Stockmoney Lizards\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Stockmoney Lizards saw rangebound BTC price action continuing prior to a retest of the most significant longer-term resistance nearer $100,000.<\/p>\n \u201cMy outlook remains cautiously optimistic – expect continued ranging between 78-88k for several weeks as Bitcoin builds energy for its next move,\u201d they forecast.\u00a0<\/p>\n \u201cOnce we clear the 97k zone, the path to 110k+ becomes much more viable by late summer.\u201d<\/p><\/blockquote>\n A key topic of conversation among traders was a BTC price breakthrough attempt focusing on a multimonth downward trend line.<\/p>\n Related: <\/strong><\/em>Can 3-month Bitcoin RSI highs counter bearish BTC price ‘seasonality?’<\/strong><\/em><\/a><\/p>\n As Cointelegraph reported<\/a>, this has been in place since BTC\/USD set its current all-time highs in January. Now, its status as resistance appears to be waning.<\/p>\n It didn’t break a multimonth downtrend just for $86K, it wants to challenge for a higher high near the 200 MA,\u201d popular trader SuperBro summarized<\/a> in part of a recent X update.<\/p>\n SuperBro referred to the 200-day simple moving average (SMA), a classic bull market support trend line, currently at $87,566.<\/p>\n \u201cIf the HH is successful, which is likely imo, then it can retrace for a HL anywhere above the low before it runs for the wedge target above $100K,\u201d he added.<\/p>\n BTC\/USD 1-day chart. Source: SuperBro\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Not everyone, however, was convinced that breaking the downtrend would mark a watershed moment for Bitcoin bulls.<\/p>\n For veteran trader Peter Brandt, nothing could be gained from observing price behavior around the trend line.<\/p>\nBitcoin price faces multiple resistance hurdles<\/h2>\n
Brandt: BTC trendline break is not \u201ctransition of trend\u201d<\/h2>\n