I woke up this morning to find a trickle of water pressure to my cold bathroom taps, and no water pressure to my hot water bathroom taps. The water was fine in the rest of the house. Since we're in the middle of an unusual cold snap (20 degrees) in Portland and this bathroom is always the coldest in the house (old, weird insulation), I immediately assumed froze pipes.
So far I shut off the water main because I'd read it's actually the water pressure that will cause a pipe to burst. My plan was to wait it out until tomorrow (the temperature is supposed to climb and stay above freezing)
Is this a sane plan? Is there anything else I could do to fix this short cutting a hold in the drywall and taking steps to preemptively defrost the pipes? Anything else I should know?
Update: Good information below, adding this illustration I found that cuts through some of the confusing language people use w/r/t the bursting problem.