Bitcoin has dropped 10.64% since the start of the year. In January, it briefly hit a record high of $109,586.27, but the month ended with a modest 9.54% gain. February saw a steep decline of -17.5%, likely due to economic uncertainty caused by President Trump’s aggressive tariff policies. March brought some relief, with losses narrowing to -2.19%.
This month, Bitcoin has gained 1.30% so far. Yesterday, it made a strong push to break above two key resistance levels: a downward-sloping trendline and the 200-day Exponential Moving Average (EMA). Analysts believe that if Bitcoin closes above these levels, it could trigger a strong bullish rally and end the current bearish trend.
Bitcoin surged to $88,513.25 yesterday but dropped sharply, closing at $82,530.38. This created a long bearish candlestick, signaling strong selling pressure.
Right now, the 200-day EMA is at $85,417.58, just 2.23% above Bitcoin’s current price. The downward-sloping resistance line is also converging near this level, making it a critical resistance zone.
If Bitcoin rises just 2.23% more, it could break through both key levels. So far today, the price has climbed 1.36%, bringing it closer to a potential breakout.
Experts believe a confirmed close above these levels could start a bullish rally. However, if Bitcoin fails to break through, the bearish trend may continue.
With economic uncertainty easing, analysts suggest that investors who moved to safer assets like gold may return to Bitcoin. If the breakout happens with strong trading volume, it could confirm renewed bullish momentum in the market.
Economic uncertainty from Trump’s tariffs may have led to BTC’s -17.5% decline in February, as investors sought safer assets.
Experts say fading economic uncertainty may push investors back into BTC, but breaking resistance is key for a bullish trend.
As per Coinpedia’s BTC price prediction, 1 BTC could peak at $169,046 this year if the bullish sentiment sustains.
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