Bitcoin Nears $87K, But Traders Warn: “Don’t Trust the Breakout Just Yet”
Crypto Market Divided Over Significance of Latest Bitcoin Price Surge
As Bitcoin pushes toward $87,000, the mood across crypto markets is a mixture of optimism and skepticism. On April 15, Bitcoin began testing fresh monthly highs, attempting to crack the $86,000 barrier, yet many seasoned traders aren’t ready to call this a full-fledged trend reversal just yet.
Despite weekend momentum and a sharp upward move, questions remain about whether this price action signals the end of the recent correction — or just another false breakout.
Traders Cautious Despite Bullish Momentum
According to data from Cointelegraph Markets Pro and TradingView, BTC/USD surged during Wall Street’s opening hours, briefly approaching $86,000. The uptick brought the cryptocurrency closer to levels unseen since early March, igniting excitement among retail investors and day traders alike.
However, market watchers remain cautious.
“It’s funny watching sentiment shift so quickly — just days ago everyone was calling for $50K, now they’re rushing to flip bullish at the first green candle,” wrote popular trading account Stockmoney Lizards on X.
They noted that while short-term momentum looks bullish, multiple resistance zones must be overcome before any true breakout can be confirmed.
Current Forecast: Ranging Before a Real Break
Stockmoney Lizards predicts that Bitcoin is likely to remain rangebound between $78,000 and $88,000 over the coming weeks. This period of consolidation, they argue, is Bitcoin’s way of “building energy” for a potential push beyond $100K.
“My outlook remains cautiously optimistic,” they shared. “Once we clear the $97K zone, the path to $110K+ becomes much more viable by late summer.”
Is the Downtrend Really Broken? Opinions Split
A central debate among crypto analysts is whether Bitcoin’s recent price move truly breaks the long-term downtrend that’s been in place since its January all-time highs.
SuperBro: Aiming Higher Than $86K
Crypto trader SuperBro believes this move is more than a short-term spike. Citing the 200-day simple moving average (SMA) — currently at $87,566 — he sees this level as a key marker for determining whether Bitcoin is poised for a higher high (HH) and possibly a run toward $100K.
“It didn’t break a multimonth downtrend just for $86K,” he said. “If the higher high is successful, then a retracement to form a higher low (HL) could set up a massive rally.”
Peter Brandt: Trendlines Don’t Tell the Whole Story
But not everyone’s buying the hype. Legendary trader Peter Brandt downplayed the significance of trendlines altogether. In a blunt post on X, he warned that traders shouldn’t make major conclusions based on a single breakout.
“Of all chart construction, trendlines are the least significant,” Brandt said. “A trendline violation does NOT signify a transition of trend.”
Where Bitcoin Stands: Momentum vs. Meaning
As the crypto community watches closely, Bitcoin’s next few moves could set the tone for the months ahead. While the current price surge has injected a fresh dose of enthusiasm into the market, the lack of consensus among veteran analysts suggests caution is still warranted.
Whether Bitcoin is preparing for another bullish leg or simply teasing traders with short-term excitement, the coming weeks will be crucial in determining whether the world’s top cryptocurrency is truly back on track for $100K and beyond.
