As of March 17, 2025, the market analysis for Bitcoin (BTC) is as follows:
- Resistance level: $85,000 (EMA15 trend line pressure, double top pattern formed).
- Support level: $80,600 (Bollinger Bands lower limit, if broken could trigger on-chain liquidation).
- Indicators: MACD shrinking death cross, DIF and DEA continuing to decline, bearish momentum increasing.
- Continuous net inflow into spot ETFs (BlackRock increased holdings by $210 million in a single day).
- If U.S. stocks rebound, BTC may take the opportunity to rise to $85,000.
Trading Recommendations
- Short-term Strategy:
- Short: Short near $85,000-$85,500, stop loss at $86,000, target $83,000-$82,000.
- Long: If it stabilizes in the $81,000-$80,000 range on pullback, a small position can be tried long, stop loss at $79,500.
