🏄 Grow your portfolio even on vacation with InvestingPro | Summer Sale 50% OFFCLAIM SALE

Bitcoin (BTC) Recovers $84,000, But There’s a Death Cross Catch

Published 03/19/2025, 10:33 AM
Updated 03/19/2025, 02:30 PM
© Reuters.  Bitcoin (BTC) Recovers $84,000, But There's a Death Cross Catch

© Reuters. Bitcoin (BTC) Recovers $84,000, But There's a Death Cross Catch

U.Today - The price of major cryptocurrency Bitcoin (BTC) saw a sudden surge during today’s trading session. What is interesting is that today is FOMC day, and the price of Bitcoin saw a sudden surge of optimism that pushed its price up by 1.5%.

As a result, BTC is now trading back at $84,000, right where the 200-day moving average on the daily price chart of the largest cryptocurrency currently stretches.

This mention of the moving average is necessary to outline that the current price point for Bitcoin is very important, as the 200-day MA usually represents a crucial resistance and support level for the asset on any financial market.

Even though Bitcoin has soared, the key is that it has soared right up to an important resistance price point, which in fact currently serves as a ceiling for the major cryptocurrency, preventing it from further growth.

You can see for yourself on the price chart that Bitcoin has tried to break above this curve several times in recent days, and its only success so far has been to print higher lows.

Death cross threat for Bitcoin (BTC)

Adding to the skepticism is an emerging death cross on the daily time frame for the BTC price chart. An ominous pattern is believed to precede a downtrend, and in this case, it is represented by the 23-day moving average crossing its 200-day counterpart from the upside to the downside.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.

According to textbook technical analysis dogmas, this could mean that Bitcoin is poised for short-to-medium-term losses, and the fact that it is now trying to break through the important price resistance ideally fits into this outlook.

Concluding all of these price chart indications of what the near future holds for Bitcoin, one could say that recent growth is nothing more than a bull trap, and if it is the rule of technical analysis, then BTC is more likely to dump than pump.

This article was originally published on U.Today

Which stock should you buy in your very next trade?

With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.

In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.

With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.

Unlock ProPicks AI

Latest comments

Casador Del OsoMar 20, 2025, 04:25
Nothing now is different than yesterday and tomorrow will be the same. Tariffs, inflation, slowing GDP, and extreme volatility in stock and coin markets.
pro badge
Jeff DowMar 20, 2025, 02:39
Nonsense. A Rally is imminent to $130,000.
Élio CarianoMar 20, 2025, 02:56
keep dreaming
Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.