bitcoin-usd/”>BITCOIN‘S $90,000 FLOP: A PRELUDE TO A PRICE SURGE OR A DEATH CROSS? 🤯
As the tariff tornado tore through markets, the poor dears were left quivering in anticipation of Liberation Day. And, oh joy! Bitcoin sprang to life, soaring above $88,000 like a champagne cork on a hot summer’s day. Alas, the bears had other plans, and a mere $500 million was liquidated in the past 24 hours. One can almost hear the sound of champagne corks being popped in despair.
The markets remained as volatile as a debutante at a ball, with traditional markets taking a tumble and crypto markets displaying a rather…unusual…stability. The quick recovery was enough to revive the faint hopes of the bulls, but, oh dear, a major hurdle still looms ahead. Once overcome, the price is expected to rise above $90,000 like a phoenix from the ashes. Or, at the very least, a rather over-inflated balloon.
As seen in the above chart, the bulls are attempting to keep the trend aloft, but until they manage to rise above the ascending trend line, the fear of a strong pullback persists. The volume has dropped, and the 50-200 day MAs are approaching a bearish crossover, the dreaded Death Cross. The DMI had undergone a bullish crossover, but the lack of volatility is compelling the levels to reverse the trend. Ah, the plot thickens like a rich, decadent sauce.
As a result, the BTC price is expected to face yet another bearish action in the coming day, which may drag the levels close to $81,000 initially. The bulls have been defending the support for a long time, but failed to trigger a 20% recovery after a rebound, hinting more downfall is required to attract fresh liquidity. Therefore, the Bitcoin price is expected to break the support and form fresh bottoms for 2025 somewhere around $76,700 to $77,000, which may further lay down a strong ascending trend beyond $90,000. Or, at the very least, a rather impressive game of musical chairs.
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2025-04-03 09:39