As Bitcoin (BTC) recovers from its five-month low, the cryptocurrency attempts to reclaim the $84,000 resistance. Some market watchers suggest that more volatility could be around the counter, as the price is compressing between two key levels.

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Bitcoin Retests 4-Month Downtrend Line

Over the past week, Bitcoin has been trading between the $74,000-$84,000 price range following the recent tariff war-related volatility. After hitting a one-week high of $84,720, the flagship crypto hit a five-month low of $74,773, driven by this week’s market correction.

Amid this performance, the cryptocurrency risked a 13.7% drop to the $69,000 support, as it generally needs a daily close above the $78,500 level for a potential short-term rebound. However, BTC’s price has surged 13.5% since Monday’s lows and attempted to reclaim the $84,000 resistance.

The market recovery was fueled by US President Donald Trump’s 90-day pause on the trade tariffs for over 75 nations, which saw the crypto market and stock prices jump 6%-10% in an hour this Wednesday.

Nonetheless, the tariffs-driven rally slowed Thursday, with Bitcoin retracing nearly 5% to the $79,000 support. Analyst Alex Clay asserted that despite the bullish rally, BTC’s price needed to reclaim the broken $80,000 support and break through the descending 4-month resistance as its short-term structure continued looking bearish.

During BTC’s 7% surge in the past 24 hours, the analyst highlighted the key support zone held, invalidating his bearish scenario. However, a breakout and reclaim confirmation of the $84,000 remained crucial for BTC’s price.

BTC Preparing For More Volatility?

Analyst Rekt Capital pointed out that Bitcoin successfully retested the $78,500 support, but its price was rejected from the 4-month downtrend resistance. Therefore, the flagship crypto’s price is now compressing between these two levels, which usually “precedes volatility.”

The analyst also noted that BTC is “developing yet another Higher Low on the RSI while forming Lower Lows on the price.” During this cycle, the cryptocurrency has formed multiple bullish RSI divergences in the daily chart, each preceding a reversal to the levels.

Bitcoin’s Daily RSI equaled 2022 Bear Market RSI levels (RSI=23.93) when price crashed into the high $70,000s. The only lower Daily RSI in this cycle was back in August 2023 (RSI=18.28). Throughout this cycle, each visit into sub-25 RSI resulted in a trend reversal to the upside over time.

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Meanwhile, crypto analyst Ali Martinez suggested that BTC could see a retrace back to the $74,000 support zone. He observed that Bitcoin’s movements within its weekly range display a W-shape to the upper boundary, and its price action seemed to be forming an M-shape after Thursday’s retrace and Friday’s jump, which eyes the range’s lower boundary.

On the contrary, the analyst also highlighted Bitcoin’s Friday performance, affirming that it “is slicing through key resistance at $82,360.” Notably, BTC’s price then jumped toward the $84,000 barrier, hitting a daily high of $84,220 before retracing to the $83,500 mark. According to Martinez, “A sustained breakout could open the door to $91,500.”

As of this writing, Bitcoin trades at $83,640, a 1% decline in the weekly timeframe.

Featured Image from Unsplash.com, Chart from TradingView.com

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Amid the market retrace, Aptos (APT) has seen an 8% decline in the past 24 hours, falling below a key support zone for the second time this week. Despite the correction, some analysts consider that the cryptocurrency could be poised for a breakout soon.

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Aptos Loses Macro Range Lows

During the March retraces, Aptos fell below a crucial support level for the first time since August 2024 but recovered 24% near the end of the month. However, APT followed the rest of the market and dumped 11% to close the March below key levels.

Analyst Rekt Capital noted that APT closed last month below its Macro Range Low of $5.44 for the first time. The cryptocurrency has been trading within the $5.45-$17 price range since 2023, retesting the range lows two times before.

Historically, “APT tends to develop bases here in the form of downside wicks for three-month periods,” he explained, adding that the cryptocurrency seems to be developing a third three-month base, with the difference that it has closed below this range for the first time in the monthly timeframe.

Following this performance, Aptos will need to reclaim the $5.44 level as support “to end this Monthly close as a downside deviation” and “avoid a bearish retest here.”

Previously, the analyst suggested that holding this level could reverse ATP’s price action in the coming months, as it has done with the other clusters. Additionally, he pointed out the previous consolidations included a “downside wicking below support.”

In his recent analysis, Rekt Capital considers that APT’s daily bullish divergence “is still something worth watching” as the cryptocurrency’s Relative Strength Index (RSI) continues to form Higher Lows despite the recent downside deviation, and its price “is trying to transition away from Lower Lows into a new Higher Low.”

According to the analyst, “a clear market structure is developing here, and a breakout from it would validate the Bull Div and set APT up for a reclaim of the Macro Range Low of $5.44,” which is key for a bullish rally.

APT To Reclaim $6.5 Resistance?

Analyst Sjuul from AltCryptoGems highlighted Aptos’ strength amid the market volatility, which saw Bitcoin (BTC) drop from $88,000 to $81,000 in the past 24 hours. APT dropped from the $5.40 mark to the $4.95 support.

The analyst considers that a retest of the local range lows could be necessary before the cryptocurrency aims for the next crucial level, as the current price zone has been tested many times.

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Moreover, a reclaim of the $5.44 range could see the APT surge another 20% to the $6.5 resistance lost two months ago. Another market watcher suggested that Aptos is “showing potential for a bullish breakout as it trades within a descending channel.”

Per the chart, the cryptocurrency has been trading within a descending channel since early February, testing the channel’s lower and upper boundaries throughout March. “After testing the lower trendline, it may be finding support, and a break above the upper resistance will signal a significant rally,” the analyst concluded.

As of this writing, Aptos trades at $5.02, a 16.1% decline in the weekly timeframe.

Featured Image from Unsplash.com, Chart from TradingView.com