Short-term optimism clashes with long-term doubts as BTC eyes fresh April highs
Bitcoin (BTC) approached the $87,000 mark at the Wall Street open on April 15, attempting to hit new monthly highs. Despite growing bullish sentiment following a weekend of strength, traders remain divided on the sustainability of the latest price movement, with concerns over macroeconomic pressures and technical resistance levels continuing to weigh on market confidence.
Traders Eye $90K But Warn of Emotional Market Swings
Data from TradingView shows BTC/USD attempting to push past $86,000, building momentum from recent gains. Enthusiasm has grown among some market participants, who are hoping for a move towards the $90,000 level — a price not seen since early March.
However, trading resource Stockmoney Lizards noted a sharp shift in sentiment, calling attention to the emotional nature of market reactions. “Just days ago everyone was calling for $50K, now they’re rushing to flip bullish at the first green candle,” the group wrote on X. They warned that such volatility in sentiment often leads to poor trading decisions, adding that several resistance levels still stand in Bitcoin’s path before any confirmation of a true trend reversal.
BTC/USD 1-day chart. Source: Peter Brandt/X
Their forecast suggests Bitcoin may continue to trade within a range of $78,000 to $88,000 over the coming weeks, using this phase to “build energy” for a potential breakout. A clear move beyond the $97,000 level, they argue, could pave the way for a rise above $110,000 later in the summer.
Debate Over Trend Line Break and Bullish Indicators
A key discussion among analysts involves Bitcoin’s attempt to break through a multi-month downward trend line, which has been in place since BTC set its all-time high in January. Some traders view this as a positive shift in technical momentum.
Popular trader SuperBro highlighted the relevance of the 200-day simple moving average (SMA), currently near $87,566, as a key level. “It didn’t break a multimonth downtrend just for $86K,” they commented. “If the higher high (HH) is successful, it can retrace for a higher low (HL) before running for the wedge target above $100K.”
BTC/USD 1-day chart. Source: SuperBro/X
Brandt Downplays Importance of Trendlines
Veteran trader Peter Brandt, however, offered a more sceptical perspective. He dismissed the significance of trendline analysis altogether, stating that trendline breaks do not indicate a transition in market trends. “Of all chart construction, trendlines are the least significant,” Brandt posted on X. “A trendline violation does NOT signify a transition of trend.”
Outlook Remains Cautiously Optimistic
While short-term momentum remains bullish, resistance levels and global economic uncertainty — particularly around the ongoing US trade war — continue to prevent a unanimous call that the recent correction in Bitcoin’s bull run is over. For now, the market is expected to consolidate within the current range, with traders watching closely for a decisive breakout beyond key resistance near $97K.
