💰 Should You Buy Bitcoin at $82K? 🤔

by
  • Psst! The Bitcoin Rainbow Chart whispered that the latest dip was a shopping spree, and fear was just a fashion trend.
  • Liquidation heatmaps hinted at a price somersault to $86.3k in the not-so-distant future. Fun times!

Bitcoin [BTC] did a little 6.89% backflip from the 10th of March’s trading shenanigans, landing gracefully at $78.6k. But oof, it’s already butting heads with the $84k wall.

A peek at the price chart and liquidation sandbox suggested a short-term playdate with consolidation.

The Bitcoin Fear and Greed Index was lounging at 34, flashing a “Fear” sign. Over the past week, it’s been chilling between 30-40, dipping to “extreme fear” on the 11th of March. Scary!

Bitcoin spot ETFs had a little $900 million leakage in the past five weeks. Because, you know, bears like to do their business in the woods.

So, the Bitcoin Rainbow Chart says, “Hey, it’s still a steal!” A colorful crystal ball for crypto investors, if you will. It’s all about that logarithmic glow-up, baby.

It’s been nailing the topsy-turvy game, but let’s be real, most of it was like, “Oh, look what we found in the rearview mirror!” Now, it’s all about how “Bitcoin’s a bargain at $82k”.

At $82k, it’s like saying a goldmine is on sale. In a world where stock markets are playing limbo, this could be the shiny distraction investors are looking for.

The 6-hour chart had a little “bearish” tea party going on. The $85k level has been a “no entry” zone for a week now. The A/D indicator was like, “Yay, March is nice!” while the price just wanted to chill at $80k.

But hey, it’s not all doom and gloom. The indicator says there’s a party in the accumulation room, and everyone’s invited.

The Awesome Oscillator is doing its thing, waving a tiny bullish flag, but not enough to start a parade.

The 1-month liquidation heatmap was all about the $100k and $71.7k-$72.3k hotspots. And oh, the $86.3k and $76.3k were like magnets for the price.

With BTC in a bearish mood, a southward slide seemed like the cool thing to do. But the A/D indicator was all, “Wait, let’s bounce!”

And if that bounce goes beyond the $85k buzzkill, everyone might start doing the bull dance before the bearish boogie begins at the $86.3k zone.

So, traders, keep your bear hats on until we break through those resistance barriers.

Read More

2025-03-19 00:11