Most of the last trading week presented another stale price action in the Bitcoin (BTC) market, characterized by a sustained consolidation. The premier cryptocurrency recorded a price breakout on March 20, reclaiming the $87,000 price zone. However, selling pressure soon forced a return below $84,700, resuming a sideways movement. Notably, Bitcoin’s price action over the past few months has formed a bullish pattern, hinting at the potential for a substantial price breakout.
Bitcoin Falling Wedge Signals Another Major Rally – How High Can BTC Fly?
In a recent post on X, market analyst Mister Crypto provided bullish insights regarding the Bitcoin market based on a continuation chart pattern and historical price data. According to Mister Crypto, Bitcoin’s price appears to be forming a falling wedge, suggesting a possible price surge upon breakout.
The falling wedge is a well-known bullish pattern in technical analysis characterized by two converging trend lines due to price action producing lower highs and lower lows. This pattern typically indicates that bearish momentum is weakening, allowing Bitcoin to embark on a sustained uptrend following a breakout from the upper trend line.
Interestingly, Mister Crypto notes that Bitcoin has consistently experienced strong price rallies subsequent to previous formations of a falling wedge, as demonstrated in the chart above. Over the past two years, there have been three distinct occasions during which the premier cryptocurrency surged for an average of 54 days, yielding an average gain of 67.5%.
Considering these historical patterns, Bitcoin could rise by an estimated 77% upon a confirmed breakout from its current falling wedge, indicating a strong bullish market for the majority of Q2 2025.
Investors Move 10,000 BTC As Market Confidence Rises
In other news, renowned market analyst Ali Martinez reports a notable surge in Bitcoin exchange outflows amid prevailing market uncertainty. Utilizing data from CryptoQuant, Martinez notes that investors have transferred 10,000 BTC, valued at $842.9 million, from crypto exchanges to personal decentralized wallets.
This development is strongly bullish, as it signifies growing market confidence in price appreciation; investors are choosing to retain their assets rather than sell. At the time of trading, Bitcoin is priced at $84,309, reflecting a price loss of 0.14% over the past 24 hours. Meanwhile, the flagship crypto asset is down by 0.39% on the 7-day chart as consolidation continues.
For Bitcoin to confirm any intent of an uptrend, it must decisively break above the $84,700 level, avoiding any retracement. However, immediate resistance can be expected at $86,800 and $90,774.
