Well, folks, Bitcoin’s been acting like a mule with a sore hoof lately, closing the month on a bearish note. The technicals are gloomier than a rainy day in Missouri, and trading activity’s dropped faster than a hot potato. But hold your horses! The star token’s flashing a hidden bullish divergence, which is fancy talk for “it’s about to bounce back like a rubber ball.” So, every dip might just be a golden ticket to the chocolate factory, with BTC primed to soar past $90,000 faster than you can say “Huckleberry Finn.”
Now, the BTC price couldn’t hold onto an important support, and that’s stirred up a bearish ruckus bigger than a cat in a henhouse. The bulls are trying to lift the rally, but they’re failing more often than a politician’s promise. Still, the traders are as confident as a rooster at sunrise, stacking up BTC like it’s going out of style. Go figure!
Take a gander at this chart of the long-term holder supply. It’s rebounded and started climbing like a squirrel up a tree. This means traders are turning optimistic, holding onto BTC like it’s the last piece of pie at a church supper. It also hints at a potential supply squeeze, which is as exciting as a circus coming to town. Meanwhile, the short-term BTC price is under upward pressure, suggesting more accumulation is on the horizon. Buckle up, buttercup!
Now, this chart shows the BTC price dropped below the 200-day MA after losing the ascending trend line it’s held since September 2024. The volume’s been dropping like a stone in a pond, turning the technicals as bearish as a grizzly in a bad mood. The bull market support band (BMSB) and MACD are heading for a bearish crossover, which is about as fun as a toothache. The current setup suggests Bitcoin might test the local support near $81,000. If the bulls can trigger a rebound, we might see a rise past $83,000. But if they can’t, a drop below $77,000 is as likely as a frog in a rainstorm. So, keep your wits about you, and don’t bet the farm just yet! 🐸
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2025-03-30 21:07