Bitcoin Price Prediction – Breakout Off Symmetrical Triangle Could Push BTC to $90k

Highlights:

• Bitcoin is showing signs of a bullish breakout on a symmetrical trading pattern
• An increase in buying volumes could trigger a rally to $90k or higher
• News of rising adoption could help drive the price higher 

Bitcoin (BTC) has moved little today as investors are trying to figure out the direction as the week starts. At the time of going to press, Bitcoin was trading at $83,630, down by 0.80%. However, trading volumes have shot up in the day, up by 106% to stand at $24.77 billion.

Such a strong surge in volumes could indicate that a breakout for Bitcoin is imminent. The only question is whether Bitcoin will break down to the upside or the downside. The possibility of a significant price breakout for Bitcoin is quite evident in the charts. 

Technical Analysis – Bitcoin Price Forming Symmetrical Trading Pattern

On the 1-hour chart, Bitcoin is trading in a symmetrical triangle. The price is trading in such a narrow range that a slight increase in either buying or selling volumes could see the price rocket in either direction. If buyers increase and the price breaks out to the upside, then a rally to a price anywhere between $88,000 and $90,0000 in the short term.

However, if the price breaks out to the downside, a correction to prices between $78,000 and $74,000 could follow. Of these two scenarios, Bitcoin is likely headed for a bullish rally to $90k in the short term. That’s because indicators already show that Bitcoin is headed for a breakout to the upside. Besides, multiple factors could help push Bitcoin higher in the short term.

Russian Bitcoin Adoption News Excites Market

One key factor that could trigger a Bitcoin breakout is recent news that Russian oil companies use Bitcoin and other cryptocurrencies. Reports indicate that Russian companies have been using Bitcoin for oil trade since as far back as 2022. Even bigger news for Bitcoin is that Russian companies have not shown a need to stop cryptocurrency trading even if the dollar sanctions are lifted. 

BREAKING: RUSSIAN OIL GIANTS SECRETLY USING #BITCOIN AND CRYPTO IN INTERNATIONAL TRADE

THE NEXT GLOBAL RESERVE CURRENCY pic.twitter.com/29ZyVQqFyY

— The Bitcoin Historian (@pete_rizzo_) March 14, 2025

Such a significant use case for Bitcoin not only helps drive Bitcoin demand but could also help further drive the perceived value of Bitcoin among investors. This could help draw in investors who have always stood on the sidelines due to a lack of a clear understanding of the intrinsic value of Bitcoin. 

Analysts Still Bullish on Bitcoin Despite Price Correction

At the same time, analysts are increasingly optimistic that the ongoing Bitcoin price action is temporary. One analyst has argued that the current price action is a shakeout occasioned by profit-taking. The analyst added that such corrections within bull cycles are normal and are often followed by major price rallies. 

However, the case for a downside breakout remains strong, and there are valid reasons for investors to be cautious. 

$BTC broke down from rising wedge. Now seeing price come back as a retest. Had some bullish div form here as well, so closely watching to see if this ends up looking more like a fake out or if we bearishly retest the breakdown. pic.twitter.com/785lmsauVZ

— Fresh Prints of Crypto (@fpcryptowill) March 17, 2025

The Bitcoin 4-Year Cycle May Be Over

One of the biggest fears is that the Bitcoin bull market is over. Some analysts have pointed out that this cycle may be over due to the entry of Bitcoin ETFs and institutional players now taking a more prominent role. However, while this may mean more stable prices in the long term, it could also trigger more panic selling in the short term.

That’s especially true now that the macro-environment is increasingly uncertain for high-risk investments. That’s because investors who usually count on the 4-year cycle for parabolic gains could exit their positions in favor of safer investments. 

The Bitcoin 4-Year Cycle Is DEAD

Blow off tops followed by 75% drawdowns are characteristic of an immature, retail-driven asset

Bitcoin is mainstream now

Those trying to "sell the top" and "buy in lower" will find themselves sidelined as BTC stairsteps its way to $1,000,000… pic.twitter.com/I74XZhbwny

— Mitchell (@MitchellHODL) March 14, 2025

Recap

Bitcoin is on the verge of a major price rally now that it appears to be breaking out of a symmetrical triangle. With news of Russian companies likely to stick to Bitcoin even if USD sanctions are lifted, investors could read this as validation for Bitcoin as a currency. This and rising institutional adoption could see Bitcoin rally back to $90k in the short term.