- BTC broke above $93K and ended its daily downtrend after strong selling pressure at $75K.
- Analysts expect the next dip near $86K to confirm a higher low and support further gains.
- The Fear and Greed Index recovered to neutral, showing stronger trader confidence.
Bitcoin has flipped its trend structure, surging past $93,000, which confirms a major breakout and traps bearish traders across key price zones. On April 23, Bitcoin traded at $93,708.78 after climbing from lows near $75,000. Analyst Jelle stated that the daily downtrend is over. He called the upcoming higher low a “golden opportunity” for market participants tracking the trend.
Analyst Captain Faibik posted a chart showing a breakout from a descending wedge. Bitcoin cleared long-standing resistance, marking the year’s largest short liquidation. Faibik humorously noted, “Those who were stupidly bearish at $75K will now start buying in out of FOMO.”
Breakout Triggers Largest Liquidation in 2025
Bitcoin’s breakout from the descending wedge indicates a powerful reversal, exposing short sellers across the $75,000–$86,000 range. The pattern’s measured target points toward $112,000, representing a 34.94% surge from the breakout zone. BTC crossed above the 50-day moving average, confirming its momentum against prior resistance. The bullish engulfing candle, visible on Jelle’s chart, also confirms increasing volume and renewed strength.
Moreover, analysts agree that if Bitcoin holds above $86,000 during the next pullback, it would establish the higher low necessary for continuation. The green-marked zones near $82,000 and $98,000 suggest where the asset may stabilize before the next impulse.
Sentiment Flips From Extreme Fear to Neutral
Sentiment data from CoinMarketCap’s Fear & Greed Index shows a dramatic psychological shift. After dropping to extreme fear in early April 2025, the index has rebounded to 52, marking neutral territory.
The sentiment curve over the last year mirrors Bitcoin’s price movement, oscillating between fear and greed. The April rebound coincides with the breakout above $93,000, suggesting growing market confidence. The index’s sharp recovery provides critical context to the chart action posted by Jelle and Faibik. When sentiment aligns with technical breakout zones, confirmation grows stronger.
Related: Bitcoin Rebounds to $87K, Targets $90K Breakout Level Next
Momentum Shifts as Analysts Signal Bullish Continuation
Jelle emphasized in his analysis that traders should watch the next higher low closely. If Bitcoin establishes this above $86,000, the pattern would confirm sustained bullish structure. Faibik’s wedge projection further strengthens this thesis, targeting the $112,000 region. The sharp move invalidated prior bearish setups, forcing late sellers to re-enter at higher levels.
The coincidence of sentiment recovery, technical breakout, and the spike in volume suggests another strong bullish possibility at April’s end, marking the beginning of Bitcoin’s next possible impulsive leg. According to the bullish momentum highlighted by both analysts, it signifies a change in the market tide.
