Bitcoin Targets $87K Following Double Bottom Breakout
Crypto traders are responding to President Trump’s fluctuating tariff announcements, focusing on price charts for insights.
Key points regarding BTC:
- Current bullish trend observed with short-duration price charts.
- Formation of a double bottom pattern at approximately $74,600 between April 7 and April 9.
- Price surpassed the neckline level of $80,800, confirming the breakout.
- Projected target for BTC rally is $87,000 based on technical analysis; current price is $82,000.
- A "bullish outside day" candle indicates potential trend reversal and renewed bullish sentiment.
- Risk of invalidation exists if BTC falls below $75,000.
XRP and DOGE Performance
XRP and DOGE experienced gains of 14.3% and 12.7%, respectively, as BTC's rise spurred broader market confidence. Both cryptocurrencies also formed bullish outside day candles, indicating possible continued upward movement.