Bitcoin continues to command attention as price action consolidates below key resistance following a sharp retracement from all-time highs. Despite recent volatility, underlying sentiment remains constructive, supported by improving technicals and a longer-term bullish outlook. Market participants are closely watching for confirmation of direction, as both momentum indicators and broader structural trends suggest the potential for renewed upside in the sessions ahead.
Overview
Bitcoin continues to command attention as price action consolidates below key resistance following a sharp retracement from all-time highs. Despite recent volatility, underlying sentiment remains constructive, supported by improving technicals and a longer-term bullish outlook. Market participants are closely watching for confirmation of direction, as both momentum indicators and broader structural trends suggest the potential for renewed upside in the sessions ahead.
Key Economic Events
Monday 10:15 am (GMT+2) - France: Flash Manufacturing PMI (EUR)
Monday 10:15 am (GMT+2) - France: Flash Services PMI (EUR)
Monday 10:30 am (GMT+2) - Germany: Flash Manufacturing PMI (EUR)
Monday 10:30 am (GMT+2) - Germany: Flash Services PMI (EUR)
Monday 11:30 am (GMT+2) - UK: Flash Manufacturing PMI (GBP)
Monday 11:30 am (GMT+2) - UK: Flash Services PMI (GBP)
Monday 15:45 (GMT+2) - USA: Flash Manufacturing PMI (USD)
Monday 15:45 (GMT+2) - USA: Flash Services PMI (USD)
Wednesday 02:30 am (GMT+2) - Austalia: CPI y/y (AUD)
Wednesday 09:00 am (GMT+2) - UK: CPI y/y (GBP)
Thursday 14:30 (GMT+2) - USA: Final GDP q/q (USD)
Thursday 14:30 (GMT+2) - USA: Unemployment Claims (USD)
Friday 09:00 am (GMT+2) - UK: Retail Sales m/m (GBP)
Friday 14:30 (GMT+2) - Canada: GDP m/m (CAD)
Friday 14:30 (GMT+2) - USA: Core PCE Price Index m/m (USD)
Technical Analysis
After peaking at an all-time high of $109,899, Bitcoin has undergone a notable correction, retracing over 30% from peak to trough. The subsequent rebound from the $76,479.19 level suggests a shift toward renewed optimism, albeit amid mixed broader signals.
From a technical standpoint, BTCUSD has reclaimed ground above the 20-period Exponential Moving Average (EMA), though it remains capped below the 50-period EMA, indicating a cautiously constructive setup.
Momentum indicators lend support to the near-term bullish bias. The Momentum Oscillator has crossed above the 100 mark, while the Relative Strength Index (RSI) has moved above the neutral 50 level—both pointing to sustained upward pressure. A decisive break above the key resistance at $87,349.27 would further validate the bullish scenario and open the path for a continuation higher.
Potential Upside Targets
If buyers take control of the market, traders may shift their focus to the following four potential resistance levels:
87,349.27: The first level of resistance is determined at $87,349.27 which reflects the high point marked March 20.
93,243.70: The second resistance level is observed at $93,243.70, which aligns with the low point from February 18.
101,298.95: The third price objective is projected at $101,298.95, representing the 423.6% Fibonacci extension drawn from 87,349.27 to 83,038.49.
109,899.00: An additional price objective is projected at 109,899.00, representing the all-time high recorded on January 20.
Potential Downside Targets
If sellers maintain control of the market, traders may focus on the following four key support levels:
83,038.49: The initial support level is estimated at $83,038.49, representing the daily low marked March 21.
80,717.86: The second support level is determined at $80,717.86, aligning with the weekly support, S1, estimated using the standard Pivot Points methodology.
76,479.19: The third support level is established at $76,479.19, reflecting the daily low marked March 11.
74,398.76: An additional downside target is noted at $74,398.76, representing the weekly support, S3, calculated using the standard Pivot Points methodology.
Fundamentals
According to analysts, Bitcoin is projected to reach $150,000 by the end of 2025, driven by expectations of U.S. Federal Reserve rate cuts and a weakening dollar. Analysts suggest that in a digital-focused economy, investors may increasingly favor Bitcoin over traditional assets like gold, especially amid macroeconomic uncertainty and tariff-related risks. The cryptocurrency is seen as resilient, with or without political endorsement, and recent market dips are viewed as part of a broader bullish cycle.
Conclusion
Bitcoin remains in a consolidative phase following its recent retracement from all-time highs, with technical indicators signaling potential for renewed upside. While price action continues to fluctuate near key resistance, improving momentum and broader structural trends support a cautiously optimistic outlook. Traders are closely monitoring for confirmation, with both upside and downside levels clearly defined. Despite short-term volatility, sentiment remains anchored in expectations of continued long-term growth.