Bitcoin consolidates at a key level as the market awaits a catalyst for a breakout

April 17, 2025
-FXnews

After the strong risk rally triggered by Trump’s pause in reciprocal tariffs, most markets just went into consolidation awaiting new information. Bitcoin is one of those markets.

The focus switched towards trade negotiations and we are waiting for the first trade deals to start building expectations. We could just range until then.

There are some positive signs with China saying that they are open for talks but there’ve been also some disappointing news on the trade negotiations front as nothing has come out yet as it’s been all nice words but zero facts.

On the daily chart, we can see that bitcoin got stuck in a consolidation right at the key trendline. This is where we are having a battle between buyers and sellers. A strong rejection should open the door for a move back into the lows, while a successful breakout will likely take us to the 90,625 level quickly.

On the 1 hour chart, we can see more clearly the rangebound price action between the 83,000 support and the 86,125 resistance

Bitcoin consolidates at a key level as the market awaits a catalyst for a breakout

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