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bitcoin

Bitcoin Nears 50% Breakout, But ‘Ichimoku Cloud’ Presents Key Resistance – Details

Ash Tiwari
by Ash Tiwari
1 month ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin (BTC) could be mirroring a bullish setup from 2023, when it surged by more than 50% within weeks after an extended period of consolidation. However, the flagship cryptocurrency now faces strong resistance from the Ichimoku Cloud, which could derail its upward trajectory.

Bitcoin Plunges Following US Trade Tariffs

Earlier today, US President Donald Trump announced reciprocal trade tariffs targeting countries worldwide, triggering a sharp downturn in both global stock and crypto markets. Notably, the US stock market shed over $2 trillion – more than BTC’s entire market capitalization.

Related Reading: Bitcoin Slips As February Core Inflation Data Surpasses Projections – Details

Despite the sell-off, all may not be lost for BTC. Crypto trader Merlijn The Trader shared the following chart, suggesting that Bitcoin could be repeating a bullish setup from 2023, when it recorded a 50% surge in just a few weeks. The trader commented:

Bitcoin 2023 vs 2025 — the setup is IDENTICAL. Same structure. Same breakout zone. Last time? $BTC exploded +50% in weeks. This time might be bigger. Buckle up.

merlijn
Source: Merlijn The Trader on X

However, BTC faces strong resistance around the $88,000 level due to the Ichimoku Cloud. According to an analysis by Titan of Crypto, Bitcoin’s attempt to reverse its downtrend was rejected within this resistance range.

titan
Source: Titan of Crypto on X

For the uninitiated, the Ichimoku Cloud is a technical indicator that identifies support, resistance, trend direction, and momentum, with the “cloud” acting as a key dynamic barrier – above it signals bullish trends, while below suggests bearish momentum.

Commenting on Bitcoin’s recent price action, crypto analyst The Crypto Express noted that BTC is currently consolidating within a symmetrical triangle pattern. The analyst added:

However, the Ichimoku Cloud remains a key resistance barrier above the current price action. A decisive breakout or breakdown of the pattern is needed to confirm the next directional move. Stay alert for further developments.

crypto express
Source: The Crypto Express on X

Short-Term Holders Sell BTC

In a separate X post, well-known crypto analyst Ali Martinez highlighted that short-term holders offloaded 18,930 BTC following Trump’s bearish tariff announcement. In contrast, recent reports indicate that long-term investors are accumulating BTC at current price levels.

ali
Source: ali_charts on X
Related Reading: Bitcoin Dominance Could Climb To 64%, Putting Altcoin Recovery In Jeopardy

Further, BTC’s March monthly close suggests that its bullish momentum may still be intact. However, it must resist falling below $80,000 to avoid breaking down below the current price range.

Meanwhile, on-chain indicators like Network Value to Transactions suggest that the leading digital asset’s price pullback is likely to continue. At press time, BTC trades at $82,356 on the daily chart, down 5.2% in the past 24 hours.

bitcoin
BTC trades at $82,356 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, charts from X and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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