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Reading: Here’s Why You Need Not Panic as BTC Price May Rebound Soon!
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EdaFace Newsfeed > Latest News > Price Analysis > Here’s Why You Need Not Panic as BTC Price May Rebound Soon!
Price Analysis

Here’s Why You Need Not Panic as BTC Price May Rebound Soon!

vitalclick
Last updated: March 30, 2025 6:55 pm
2 months ago
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Bitcoin is about to close the monthly trade on a bearish note, which may hinder the progress of the rally. The technicals have turned bearish, while the trading activity has also dropped significantly, substantiating the bearish claim. However, the star token is flashing a major hidden bullish divergence and, hence, is believed to rebound and rise once validated. Therefore, each drop may be considered a good buying opportunity as the BTC price is primed to rise above the major resistance at $90,000 very soon. 

The BTC price failed to hold an important support, which has activated a huge bearish activity. Moreover, the bulls have been consistently failing to lift the rally above the ascending resistance, substantiating the bearish claim. Meanwhile, the traders appear to remain confident about the future of the BTC price as they continue to accumulate, regardless of the persisting trend. 

The above chart of the long-term holder supply suggests it has rebounded and has begun to rise. Hence, this indicates that the traders are turning optimistic and, hence, continue to hold BTC despite the growing bearish influence over the token. This also suggests the probability of a potential supply squeeze. Meanwhile, the BTC price in the short term is facing huge upward pressure, which suggests more accumulation on the horizon. 

As seen in the above chart, the BTC price dropped below the 200-day MA after losing the ascending trend line that it had held since September 2024. Besides, the volume has been dropping constantly, which has turned the technicals bearish. The bull market support band (BMSB) and MACD are heading towards a bearish crossover. Hence, the current trade setup suggests the Bitcoin price may test the local support close to $81,000. If the Bulls manage to trigger a rebound, a rise beyond $83,000 could be possible; otherwise, a drop below $77,000 seems to be imminent. 

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