TLDR
- Bitcoin has climbed nearly 5% in the past week, reclaiming the $84,000-$85,000 range
- BTC reached a biweekly high of $88,765 but failed to break $89,000 resistance
- Analyst Alex Clary points to bullish indicators including RSI divergence and V-shaped recovery
- Bitcoin needs weekly closes above $88,400 and $93,500 to end its downside deviation period
- Oklahoma House passed the Strategic Bitcoin Reserve Bill, joining other states embracing BTC
Recent Price Movement
Bitcoin has shown strong momentum over the past week, climbing nearly 5% and reclaiming key support levels. The cryptocurrency has surged from previous week’s prices, closing above the $86,000 mark. This recent bullish action has pushed BTC toward the $88,000 zone.
The flagship cryptocurrency was rejected from the $84,000-$85,000 zone multiple times in the past two weeks. However, Bitcoin managed to reclaim this range over the weekend. This recovery has caught the attention of market watchers.
During the start-of-week pump, BTC reached for the $89,000 resistance level. It hit a biweekly high of $88,765 but couldn’t retest the next crucial zone as bullish momentum slowed. Still, the cryptocurrency has maintained its current range.
For the past 24 hours, Bitcoin has held steady between the $86,000-$88,000 support zone. This stability suggests the recent gains might be sustainable.
Analyst Predictions
Analyst Alex Clary sees positive signs for Bitcoin’s continued rise. He states that Bitcoin’s momentum “looks awesome” for a break above the $88,000-$90,000 support zone.
Clary points to three key indicators supporting his bullish outlook. These include a Relative Strength Index (RSI) bullish divergence, a V-shaped recovery pattern, and a break above downtrend resistance.
#BTC Daily Update
Bullish momentum looks awesome for to break back above the Blue Support👀
✅Bull Div by RSI
✅V-Recovery
✅Break through Descending ResistanceIn case of breakout I am looking for $95k & $100k to be retested📈#Bitcoin $BTC pic.twitter.com/wKHCRBLG4R
— Alex Clay (@cryptclay) March 25, 2025
According to Clary, if Bitcoin can break out and reclaim the $90,000 resistance level, it could jump between 8% to 14%. This would take prices from current levels to the $95,000-$100,000 range that was lost in February.
Another analyst, Daan Crypto Trades, notes that Bitcoin’s price has been moving in line with the S&P 500 index. This correlation helps explain the recent dump and bounce in Bitcoin’s price.
Despite this correlation, Daan mentions that Bitcoin is trading “at a solid spot premium during this bounce.” This suggests new local highs are possible if BTC maintains current levels and reclaims the range above $90,000.
Technical Analysis
Analyst Rekt Capital provided deeper technical insight into Bitcoin’s current position. He warned that Bitcoin needs weekly closes above specific levels to end its downside deviation period.
For the past five weeks, BTC has been consolidating between two major bull market Exponential Moving Averages. These are the 21-week and 50-week EMAs.
Bitcoin’s price action has recently moved closer to the 21-week EMA. This level sits at around $88,400 and represents a “major trend decision” point.
According to Rekt Capital, Bitcoin needs a weekly close above $88,400. It also needs to retest this level as support to target its Macro Range.
The analyst drew parallels to mid-2021 when Bitcoin crashed 55%. He suggested we could see similar volatility in both directions. This might trap FOMO buyers in upside wicks or cause panic selling into downside wicks.
A weekly close above the 21-week EMA could start an uptrend toward the Re-Accumulation Range Low of $93,500. Bitcoin would then need to close above this level to “resynchronize with the Range.”
Institutional Adoption
A major shift is happening with governments and institutions recognizing Bitcoin’s value. The Oklahoma House recently passed the Strategic Bitcoin Reserve Bill. This adds Oklahoma to a growing list of states embracing Bitcoin.
Texas, Arizona, and Utah have already recognized Bitcoin as a state treasury asset. This movement reinforces Bitcoin’s legitimacy as a store of value. It also signals growing confidence in its long-term stability.
If more states follow this trend, it could boost Bitcoin’s institutional adoption. This would likely have a positive impact on its price trajectory.
At the same time, institutional investors are showing greater interest in Bitcoin through ETFs. These provide a regulated and accessible way to gain exposure to the cryptocurrency. With major financial players supporting Bitcoin, its presence in mainstream finance continues to strengthen.
Market Sentiment
Despite the positive price action, there are warning signs in market sentiment. Blockchain analytics firm Santiment cautions that excessive bullish sentiment on social media often signals a market correction.
History suggests that when the majority turns overly bullish, a pullback often follows. This contrarian indicator might be worth watching as Bitcoin approaches key resistance levels.
The recent uptrend comes after Bitcoin dropped to $78,000 twice in March. These drops were attributed to economic uncertainties, inflation worries, and rising gold prices. As Bitcoin rebounds, traders are setting their sights on new highs between $100,000 and $159,000.
Trump’s April Tariff Decision
A key event on the horizon is President Trump’s Global Reciprocal Tariffs. These are set to take effect on April 2nd. The tariffs could introduce trade restrictions that create uncertainty in financial markets.
Historically, increased tariffs have been negative for risk assets like Bitcoin. However, recent reports suggest Trump might soften these policies. This could be bullish for Bitcoin and crypto markets overall.
If the new tariffs are less aggressive than expected, investor confidence may rise. This could lead to more capital flowing into Bitcoin. On the other hand, aggressive trade policies might cause short-term volatility.
Either way, April could be a pivotal month for Bitcoin’s price action. The outcome of these policy decisions will likely influence market direction.
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