Bitcoin Near $84,000 Could Spark Rally After Bullish MACD Cross

Based on recent reports from today, April 17, 2025, Bitcoin is currently consolidating within a narrow range between approximately $83,200 and $85,800. Here's a breakdown of the situation: Consolidation: Bitcoin's price has been trading sideways within this channel, indicating a period of equilibrium between buyers and sellers. Bullish MACD Cross: Crypto analyst Titan of Crypto has pointed out that the Moving Average Convergence Divergence (MACD) indicator on the 3-day chart has recently shown a bullish cross. This is often interpreted as a potential signal for upward momentum. Potential for Rally: The combination of this bullish MACD cross and the ongoing consolidation near the $83,000 support level suggests that Bitcoin could be poised for a rally. Analyst Perspectives: Ali Martinez noted that as long as the $83,200 support holds, Bitcoin might rebound towards the midpoint of the channel around $84,500 or even test the upper boundary at $85,800. Daan advised investors to watch for a decisive break below $83,000 or above $86,000, as a clean breakout from these levels could signal the start of the next significant price movement. Merlijn The Trader hinted at a potential short squeeze scenario, where a brief dip could liquidate long positions before trapping short sellers and leading to an upward surge. Titan of Crypto suggests that the bullish MACD cross on the 3-day chart could indicate a larger momentum shift, potentially targeting price levels as high as $135,000. They noted that the last time such a cross occurred, Bitcoin's price surged by over 90%. Key Levels to Watch: Analysts suggest closely monitoring the $83,000 support and the $85,800 - $86,000 resistance levels for potential breakout signals. Current Price: At the time of the report, Bitcoin was trading around $84,772, down slightly over the past 24 hours. It's important to remember that technical analysis indicators like the MACD are not always accurate predictors of future price movements, and the cryptocurrency market is inherently volatile. However, the confluence of consolidation and a bullish MACD cross is being watched by analysts as a potential catalyst for the next Bitcoin rally.