Ah, behold the mighty Bitcoin (BTC), swirling around the $83,000 mark as the sun rises on Wall Street this fateful March 14! Traders, those brave souls, are sharpening their tools, eager to flip the script and embrace the bullish winds. 🤑
BTC price RSI flirts with a “bullish divergence”
Data from the ever-watchful CryptoMoon Markets Pro and TradingView reveals that BTC/USD has danced up to a 5% gain today, only to pause and catch its breath. A classic case of the market’s indecision, as risk assets tremble at the thought of macroeconomic and geopolitical surprises—like US trade tariffs lurking in the shadows. 😱
In the grand theater of the daily BTC/USD chart, our beloved trader and analyst, Rekt Capital, proclaims that the odds of a bullish divergence are rising like bread in a warm oven. The RSI, that fickle friend, should show higher lows while the price sinks lower, hinting at a waning seller dominance. How poetic! 🎭
“Promising early-stage signs of a Bullish Divergence developing,” he quips in one of his daily musings on X.
“Reclaiming the previous lows of $84k could set price up to further build out this Bull Div.”
Another post from our dear Rekt highlights a horizontal resistance line, valiantly under siege by the bulls. “Bitcoin continues to Daily Close below the blue resistance. However, each rejection from this resistance appears to be weakening in terms of follow-through to the downside,” he observes, with a hint of sarcasm. 🐂
“If this weakening in the resistance persists… This should open up the opportunity for BTC to finally Daily Close above this $84k resistance, reclaim it as support, and finally trend continue to the upside.”
Meanwhile, Keith Alan, the co-founder of Material Indicators, turns his gaze to the 21-day and 200-day simple moving averages (SMAs). At this moment, they stand at $83,740 and $86,800, respectively, like two old friends reminiscing about better days.
“BTC is poised to make another run at reclaiming the 200-Day MA, but it will only count if we get a sustained close above it, AND it is closely followed by an R/S Flip at the 21-Day MA,” he declares in an X post, as if he were a fortune teller peering into a crystal ball. 🔮
Alan, ever the optimist, references one of Material Indicators’ proprietary trading tools, calling for an increase in “bullish momentum.” “Notice how Trend Precognition’s A1 Slope line is showing a developing momentum shift,” he notes, as if he’s discovered a new species of butterfly. 🦋
“Reverting from downward momentum is step 1. We need to see an increase in bullish momentum from here, with bids moving higher to stage a sustainable rally.”
Gold leaves Bitcoin in the dust
In other corners of the financial world, the S&P 500 breathes a sigh of relief after a 10% drop from its latest all-time highs, officially entering the realm of technical correction. Meanwhile, gold, that glittering beacon of stability, sets new record highs of over $3,000 per ounce, as investors seek refuge from the stormy seas of macro conditions. 🏴☠️
As CryptoMoon reports, Bitcoin has broken a key long-term trendline against gold, revealing its relative underperformance in 2025 like a bad haircut on a Saturday night.
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2025-03-14 18:35