FameEX Hot Topics | Bitcoin Eyes $100K Again as Trump’s Tariff Pause Boosts Market Optimism

Bitcoin experienced a sharp rebound following U.S. President Donald Trump's announcement of a pause on tariffs for countries that are not retaliating against the U.S. The move injected fresh optimism into financial markets, including the cryptocurrency space. As a result, Bitcoin's bullish momentum reignited, reviving hopes that the leading digital asset could make a push toward the long-anticipated $100,000 price milestone.

On April 9, the BTC/USD pair surged nearly 9%, recovering most of the ground it had lost earlier in the week. The rally brought Bitcoin back to the $83,000 level, a key resistance zone that aligns with the upper boundary of a falling wedge pattern forming since December 2024. This technical setup is often considered bullish and typically signals a potential trend reversal once a breakout occurs.

A falling wedge pattern is characterized by a narrowing price range between two descending, converging trendlines. In technical analysis, this formation suggests that selling pressure is weakening. When the price decisively breaks above the wedge's upper trendline, it often triggers a rally equal to the maximum distance between the two trendlines.

As of April 9, Bitcoin remained within the wedge pattern but was pressing against the upper trendline near $83,000. A confirmed breakout at this level could pave the way for a significant rally, with an upside target of $100,000 by June. However, if the price fails to break out and is rejected, it could retreat toward the wedge’s apex near $71,100—where another breakout attempt could later occur.

Bitcoin’s recent bounce also came as it approached a critical on-chain support zone between $65,000 and $71,000. This zone reflects the average cost basis of active market participants—filtering out long-dormant or lost coins—and suggests strong investor conviction. Together with the bullish wedge pattern, these signals support Bitcoin’s renewed path toward the six-figure price level.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.