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Bitcoin (BTC) price hovered near $87,300 on March 24. BTC analysts pointed to converging technical and macroeconomic signals that could trigger a BTC price breakout by late April.
Bitcoin Price Consolidates as Bulls Prepare for Explosive April Move
BTC price remains in a tight trading range despite reclaiming $87,000 briefly on March 20.
Resistance near $85,600 capped bullish momentum. The 1.8% drop over the last 24 hours marked a continuation of the broader sideways movement.
Bitcoin Price Falling Wedge Pattern Fuels Bullish Expectations
Technical analyst Mister Crypto posted a chart on X identifying a falling wedge pattern in Bitcoin’s recent price structure.
The pattern — formed by lower highs and lower lows — traditionally indicates waning bearish pressure.
Mister Crypto noted BTC has rallied an average of 67.5% over 54 days after previous falling wedge breakouts.
He predicted that a confirmed breakout could push prices up by 77%, suggesting a rally well into Q2.
Another independent analyst, Cas Abbé, observed BTC price forming a double-bottom near $80,000 after a 30% retrace from January highs.
Abbé expects a short-term move toward $90,000–$92,000, followed by a correction before the next leg higher to $150,000.
Correlation With Global M2 Signals Late April Rally
Macro analyst “The M2 Guy” added a liquidity-driven perspective, tying BTC’s trajectory to changes in global M2 money supply.
According to his post, Bitcoin’s price shows a strong correlation with a 107-day offset of the M2 chart.
He projects a vertical rally beginning around April 30, backed by a sustained increase in global liquidity.
The surge, he claims, could extend for two months if macro trends persist.
While not pinpointing a price, he previously suggested a move beyond $140,000 remains plausible under current liquidity conditions.
Exchange Outflows Highlight Rising Investor Confidence
Meanwhile, investors appear to be positioning for long-term gains.
On-chain analyst Ali Martinez flagged the transfer of 10,000 BTC — worth approximately $842.9 Million — from exchanges to self-custody wallets.
Martinez described the move as a “strongly bullish” signal. Exchange outflows often reflect long-term accumulation and reduced selling pressure, aligning with sentiment that BTC is poised for higher valuations.
Derivatives data from Coinglass supports the bullish view. Bitcoin open interest dipped 1.77% to $51.98 Billion, while options interest fell 0.54% to $33.51 Billion.
However, short liquidations — totaling $806,000 over 12 hours — outpaced long liquidations, suggesting that bulls are absorbing sell pressure.
The long-short ratio stayed near neutral at 0.9589, with Binance and OKX slightly preferring long positions.
Despite the optimism, BTC price remains vulnerable without a clean break above $90,000. According to price data, resistance zones lie near $86,800 and $90,774.
Analysts warn that failure to hold above $83,500 could trigger a deeper pullback.
