Bitcoin recently broke above a trend line resistance!
Will this lead to the OG crypto reversing its 2025 trend?
We’re checkin’ out the 4-hour chart for more info:
Bitcoin (BTC/USD) 4-hour Chart by TradingView
In case you missed it, fresh worries over higher tariffs and Trump’s attacks on Fed Chair Powell have rattled confidence in the dollar and raised questions about the Fed’s independence.
Meanwhile, Bitcoin and other USD rivals have been on the move, boosted by hopes for trade deals, peace talks between Russia and Ukraine, and progress on a U.S.-Iran nuclear agreement.
Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your homework on bitcoin and the U.S. dollar, then it’s time to check out the economic calendar and stay updated on daily fundamental news!
BTC/USD is testing the $88,200 zone, right around the R2 Pivot Point at $88,265 and a key resistance area that’s held since March.
A breakout above this zone could attract fresh buying and set the stage for a push toward the $90,000 psychological mark.
More importantly, holding above $90,000 would reinforce the case for a bullish reversal, especially after BTC/USD broke above a trend line that’s capped gains since January.
If momentum picks up, bulls could target the $94,000 zone or even the $98,500 resistance area.
But if price gets rejected from this resistance range, we might see a drop back to $84,000 or even $82,000 support.
Whichever bias you end up trading, don’t forget to practice proper risk management and stay aware of top-tier catalysts that could influence overall market sentiment!