Bitcoin (BTC) Price Hovers At $84K As Bulls Face Critical Resistance

Bitcoin is currently trading in a tight range between short-term supply and demand, following weeks of heavy selling pressure that sent shockwaves through the broader crypto market.

Bitcoin (BTC) is currently trading in a tight range as short-term supply and demand keep the largest cryptocurrency in a holding pattern, following several weeks of heavy selling pressure that sent shockwaves through the broader crypto market.

After losing over 29% since its January all-time high, BTC is now searching for direction as bulls must step up and reclaim the $90,000 level to restore confidence and confirm the start of a recovery rally. Until then, uncertainty remains the dominant theme.

This cautious sentiment is furthered by the broader macroeconomic backdrop, with trade war fears and global financial instability weighing heavily on investor morale. Volatility in equities and geopolitical tensions have spilled into the crypto space, making it harder for Bitcoin to establish a clear trend.

However, top crypto analyst Ali Martinez has shared a technical analysis on X, revealing that Bitcoin may have completed a classic cup-and-handle formation, topping at around $109,000. But this doesn’t necessarily signal further downside. Instead, it highlights that Bitcoin is currently without a defined direction.

According to the analyst:

This chart is interesting. #Bitcoin may have completed a classic cup and handle formation, a bullish technical pattern that is used to identify a reversal in a bear market or a continuation of a bull market, at around $109,000.

After reaching a high of $110,000 in January 2025, Bitcoin dropped sharply, losing more than 28% of its value in a swift decline. This downturn was fueled by several factors, including macroeconomic headwinds, crypto exchange failures, and the broader market pessimism that followed the Covid-19 pandemic.

However, after hitting lows of $76,600 in March 2025, Bitcoin showed signs of resilience as it began a slow but steady recovery. This rebound was largely attributed to a decline in selling pressure, a shift in investor sentiment, and a period of relative stability in the broader financial markets.

As of March 11, Bitcoin had recovered 13% from its recent lows, trading at around $84,000. This move brought Bitcoin back into a key technical range, setting the stage for the next decisive move.

Investors are now closely watching to see whether bulls can maintain control and push for further gains, or if bears will regain the initiative and push for new lows. The direction of the next move could have implications for the broader crypto market, which has largely followed Bitcoin’s price trends throughout 2025.

Bitcoin Faces A Pivotal Test As It Attempts To Recover From Deep Downtrend

Bitcoin is currently trading at $84,000 as it attempts to build on a 13% rally from March 11 lows of $76,600, setting sights on reclaiming the $88,000 level.

This recent surge has brought cautious optimism to the market, but the path ahead remains uncertain as Bitcoin faces a critical technical and psychological test.

After a sharp downtrend that began after January’s all-time highs, the world’s leading cryptocurrency is still struggling to recover fully, and investor sentiment remains mixed.

Many entered 2025 with expectations of a strong bull run, but recent price action and growing macroeconomic concerns have prompted some analysts to call for the start of a bear market.

According to Ali Martinez, Bitcoin may have already completed a classic cup-and-handle pattern, topping out at around $110,000—just $5,000 shy of the expected $115,000 target. If this technical blueprint holds true, the current correction may simply be part of a broader consolidation phase.

This view aligns with the idea that Bitcoin needs to stabilize before its next major move. Bulls must defend current levels and build momentum to push past the $90,000 barrier.

Until then, BTC appears to be in a holding pattern, caught between the hope for a resumed uptrend and the fear of deeper downside risk, rendering uncertainty the dominant theme in the short-term outlook.

BTC Price Remains In Tight Range As Bulls Face Critical Resistance

Bitcoin is currently trading at $84,100 after several days of tight consolidation and slow price action around this level.

Market participants are closely watching this range, as it represents a key short-term battleground between bulls and bears. For any meaningful recovery to take place, bulls must reclaim the $87,300 level, which aligns with both the 4-hour 200-day moving average (MA) and the 4-hour 200-day exponential moving average (EMA).

A decisive move above these indicators would likely spark a renewed push toward the $90,000 level, a psychological and technical barrier that could confirm the beginning of a short-term bullish trend.