Bitcoin bulls could set their longer-term price target at $100,000 if politicians and US equities markets play nice.
Bitcoin (BTC) staged a sharp rebound after US President Donald Trump announced a pause on tariffs for non-retaliating countries, reigniting bullish momentum and raising hopes for a potential surge toward the $100,000 mark.
On April 9, BTC/USD surged by approximately 9%, reversing most of the losses it incurred earlier in the week, to retest $83,000. In doing so, the pair came closer to validating a falling wedge pattern that has been forming on its daily chart since December 2024.
A falling wedge pattern forms when the price trends lower inside a range defined by two converging, descending trendlines.
