Bitcoin (BTC) may have finally bottomed out after a steep 30% correction from its all-time high of $109,000, with technical indicators and historical patterns hinting at a potential bullish turnaround.
BTC Forms Higher Lows After $76K Bottom
After plunging to a low of just over $76,000 on March 10, BTC has since charted a series of higher lows — around $78,000 on Feb. 28 and $81,000 on March 31 — forming what analysts describe as a triangular bottom pattern. This structure signals seller exhaustion and increasing buying pressure, a common feature of past reversal zones.
Historical Parallels Suggest Upside Potential
BTC’s recent price action mirrors patterns seen after two major macro events:
January 2024 – U.S. Spot Bitcoin ETF Launch: BTC saw a 20% correction, hitting a low below $40,000 on Jan. 23, with higher lows before and after that date.
August 2024 – Yen Carry Trade Unwind: BTC bottomed at $49,000 on Aug. 5, with higher lows observed in early July and again in early September.
In both cases, these patterns preceded renewed upside momentum, leading some traders to believe that a similar breakout could be in play now.
Expert Insights: Bullish Structure Emerging
Omkar Godbole, Managing Editor at CoinDesk Markets, highlighted the shift from lower lows to higher lows in the current market, noting it aligns with historical bottoming signals.
“The latest pattern resembles the structures seen during past corrections, signaling that sellers are losing strength and a bullish momentum shift may be underway,” Godbole said.
Caution: Trump’s Tariff Plans Could Disrupt the Trend
Despite the encouraging technical setup, macro uncertainty remains a major risk. Investors are closely watching U.S. President Donald Trump’s planned "Liberation Day" tariffs, set for April 2, which could impact market sentiment across both equities and crypto.
Key Levels to Watch:
Support: $76,000 (March 10 low)
Resistance: $85,000–$89,000 range
Breakout Target (if pattern holds): Potential retest of $100,000+
Bottom Line:
While no bottom is confirmed until key resistances are broken, Bitcoin’s recent higher lows suggest the worst of the correction may be over. If historical cycles repeat, BTC could be primed for a renewed uptrend—barring any macroeconomic shocks that could derail investor confidence.
Traders should keep an eye on volatility leading into April as markets digest potential tariff announcements and broader risk sentiment, according to CoinDesk.
