Why Bitcoin’s Price is Stuck in a Funk: A Hilarious Look at BTC’s Future!

As the sun rises on another week, the bulls, those noble creatures of the market, seem to be losing their grip, according to the wise sages at CoinMarketCap. 🐂💔

BTC/USD

Ah, the price of Bitcoin (BTC), that fickle friend, has decided to play the role of a statue, remaining as still as a deer caught in headlights since yesterday. 🦌💤

Once again, our dear BTC has bounced off the local support of $82,790, like a rubber ball in a world of concrete. If the daily bar decides to close far from that mark, we might just see a test of the resistance level by tomorrow. Or not. Who knows? 🤷‍♂️

Now, if we zoom out and take a gander at the bigger picture, we find that the price of our beloved crypto is lounging far from both support and resistance levels, like a cat on a sunny windowsill. The volume is falling faster than a lead balloon, indicating that neither side is ready to take the reins. 🎈💨

If the winds of change do not blow by tomorrow, we can expect the ongoing sideways trading in the range of $82,000-$84,000 to continue, much like a broken record stuck on repeat. 🎶

From a midterm perspective, it’s a tad premature to make any grand predictions. If the weekly bar closes far from the support of $78,200, we might just see a bounce back to the $86,000-$88,000 area. Or we might not. It’s all part of the fun! 🎢

As of now, Bitcoin is trading at a cool $83,000, just hanging out, waiting for something exciting to happen. 🤑

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2025-03-17 18:18