Bitcoin has shown signs of recovery, surging around 9% to retest $83,000 after US President Donald Trump announced a pause on tariffs for non-retaliating countries. This has reignited bullish sentiment, with a long-term target of $100,000 becoming plausible if market conditions remain favorable. The price movement aligns with a falling wedge pattern that has been developing since December 2024, potentially signaling a breakout above $83,000. Key support zones between $65,000 and $71,000, identified through Bitcoin metrics, suggest if Bitcoin can maintain support above these levels, a rally towards $100,000 is more likely. However, falling below this support could jeopardize this bullish outlook and lead to significant price declines toward $50,000. Analysts underscore the importance of the 50-week exponential moving average as a historical trend-defining level, further complicating the market's dynamics.

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