Bitcoin Price Watch: Market Stalls Below Resistance as Traders Wait

CN
2 days ago

On the hourly chart, bitcoin registered a steady uptrend from $81,287 to an intraday high of $84,490. The price action displayed a series of higher highs and higher lows, typical of short-term bullish sentiment. However, red candlesticks emerged near the upper band, implying mild resistance or profit-taking. A pullback toward the $83,000–$83,200 area is likely to attract dip buyers, with $82,500 being a reasonable stop-loss level. A break above $84,800 could provide fresh intraday momentum, but failing that, bitcoin could remain range-bound.

Bitcoin Price Watch: Market Stalls Below Resistance as Traders Wait

BTC/USD 1H chart via Bitstamp on April 1, 2025.

The 4-hour chart offers a short-term view of market structure that supports a tentative recovery. After bottoming out at $81,287, bitcoin formed a clear series of higher lows and pushed toward $84,000, hinting at accumulation behavior. Despite this upward shift, confirmation of a V-shaped reversal is still lacking. A strong candle close above $84,500—preferably with a volume spike—would suggest momentum traders are re-entering the market. A breach below $81,200, however, would invalidate the short-term bullish thesis and may expose bitcoin to deeper retracements.

Bitcoin Price Watch: Market Stalls Below Resistance as Traders Wait

BTC/USD 4H chart via Bitstamp on April 1, 2025.

On the daily timeframe, bitcoin remains in a broad sideways consolidation pattern following a sharp decline from its March highs of $99,508 to the recent bottom around $76,608. Resistance persists in the $86,000 to $88,000 range, while immediate support has solidified around $82,000. Volume has tapered off recently, which often precedes larger directional moves. The bias remains neutral until a decisive break above $88,000 occurs, which would reestablish the bullish trend. Conversely, a failure to hold $82,000 could send bitcoin toward the $76,000 support zone once again.

Bitcoin Price Watch: Market Stalls Below Resistance as Traders Wait

BTC/USD 1D chart via Bitstamp on April 1, 2025.

From a technical indicator standpoint, oscillators are largely neutral, with the relative strength index (RSI) at 46, the stochastic at 23, the commodity channel index (CCI) at −36, and the average directional index (ADX) at 22, all suggesting a market in waiting. Notably, the momentum indicator at 157 and the moving average convergence divergence (MACD) level at −1,065 both show a buy signal, reflecting emerging strength beneath the surface. In contrast, all major exponential moving averages (EMA) and simple moving averages (SMA)—ranging from the 10-period to the 200-period—flag sell signals, reinforcing the need for caution until a confirmed reversal is underway.

Overall, the technical picture for bitcoin on Tuesday, illustrates a market caught between fading bearish pressure and cautious bullish re-engagement. While shorter-term timeframes suggest tactical opportunities for dip-buying, the broader trend requires a break of critical resistance at $88,000 to validate a longer-term bullish outlook. Until then, traders are best served by maintaining discipline within well-defined risk parameters.

Bull Verdict:

If bitcoin can hold above $83,000 and break decisively above the $84,500–$88,000 resistance zone on rising volume, the market may confirm a bullish continuation pattern. A sustained push beyond $88,000 would open the door toward retesting prior highs, potentially reigniting the broader uptrend. Momentum and market structure support cautious optimism, provided key support levels remain intact.

Bear Verdict:

Failure to maintain support above $82,000—particularly if accompanied by declining momentum and weak buying interest—could signal a deeper retracement toward $76,000 or lower. The dominance of sell signals across all major moving averages underscores persistent downside risk. Until price action breaks above resistance with conviction, the broader outlook remains vulnerable to further consolidation or decline.

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