Bitcoin Gradually Emerging from Bearish Trap: Six Digits Soon?

Bollinger Bands have significantly tightened with price hovering near the upper band, around $84,600. A sustained hold above the middle band (20-day SMA) at $84,600 could trigger a move toward $90,000.

However, traders could see significant resistance in the $87,000–$88,500 region.

Meanwhile, the blue MACD line is currently above the orange signal line with green histogram bars. This also indicates that short-term momentum is upward.

| Source: Trading View

It is important to note that BTC recently broke out from a 5-month long descending wedge pattern, further confirming the bullish shift.

However, popular analyst Crypto Ceaser explains that breaching the EMA50 (Exponential Moving Average – 50 day) remains critical to confirm a long-term bullish reversal. The key resistance zone near $87,000 must be reclaimed for the bulls to regain decisive control.

Its important for $BTC – #Bitcoin to break the EMA50.

— Crypto Caesar (@CryptoCaesarTA) April 17, 2025