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Cryptocurrency News Articles

Bitcoin (BTC) price flirts with $83,000 as traders eye bullish divergence

Mar 14, 2025 at 11:22 pm

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Bitcoin (BTC) price stalled at the $83,000 level at the March 14 Wall Street open as traders set out requirements to flip bullish.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

BTC price RSI teases key ‘bullish divergence’

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining up to 5% on the day before consolidating.

A characteristic lack of momentum at the start of the US trading session persisted, with risk assets still wary of macroeconomic and geopolitical surprises, notably in the form of US trade tariffs.

Assessing the current status quo on the daily BTC/USD chart, popular trader and analyst Rekt Capital reported increasing odds of a bullish divergence playing out on the relative strength index (RSI) metric.

Here, RSI should make higher lows as the price forms lower lows to indicate waning seller dominance.

“Promising early-stage signs of a Bullish Divergence developing,” he wrote in one of the day’s posts on X.

BTC/USD 1-day chart with RSI data. Source: Rekt Capital/X

Another post flagged a key horizontal resistance line currently under attack from bulls.

“Bitcoin continues to Daily Close below the blue resistance. However, each rejection from this resistance appears to be weakening in terms of follow-through to the downside,” Rekt Capital commented.

BTC/USD 1-day chart with RSI data. Source: Rekt Capital/X

Keith Alan, co-founder of trading resource Material Indicators, meanwhile focused on the 21-day and 200-day simple moving averages (SMAs). At the time of writing, these stood at $83,740 and $86,800, respectively.

“BTC is poised to make another run at reclaiming the 200-Day MA, but it will only count if we get a sustained close above it, AND it is closely followed by an R/S Flip at the 21-Day MA,” an X post on the topic read.

BTC/USD 1-day chart with 21, 200SMA. Source: Cointelegraph/TradingView

Alan referenced one of Material Indicators’ proprietary trading tools, calling for an increase in “bullish momentum.”

“Notice how Trend Precognition's A1 Slope line is showing a developing momentum shift,” he commented alongside a corresponding chart.

BTC/USD 1-day chart. Source: Keith Alan/X

Gold leaves Bitcoin in the dust

Elsewhere, the S&P 500 saw some welcome relief at the open after dropping 10% from its latest all-time highs to officially begin a technical correction.

Related: Bitcoin panic selling costs new investors $100M in 6 weeks — Research

Meanwhile, gold set new record highs of over $3,000 per ounce as investors sought shelter from turbulent macro conditions.

As Cointelegraph reported, Bitcoin broke a key long-term trendline against gold as its relative underperformance in 2025 became all the more visible.

XAU/USD 1-day chart. Source: Cointelegraph/TradingView

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Other articles published on Mar 16, 2025