Bitcoin (BTC) recently declined below the $104,000 threshold amid market anticipation of the U.S. Federal Reserve’s interest rate decision. Technical analysis suggests this pullback may establish conditions for a potential 18-25% price surge toward $130,000 before the conclusion of Q2, provided critical support levels remain intact.
Key technical indicators signal brewing volatility, with compressing Bollinger Bands historically preceding significant price breakouts. The $102,000-$104,000 zone is viewed as essential for confirming a short-term market bottom, while the $98,300 level represents a crucial sentiment support threshold.
Analysts emphasize that maintaining these support areas could catalyze Bitcoin’s projected ascent. The Bollinger Bands’ current tightening phase indicates suppressed volatility, a pattern that typically resolves with substantial price movements. Market participants are advised to monitor these technical levels closely and prepare for potential volatility shifts in the coming weeks.
The anticipated price movement is expected to unfold within a 6-8 week timeframe, contingent on Bitcoin holding above the identified support zones amid evolving macroeconomic conditions.