Bitcoin Nears Critical Resistance Zone Amid Market Uncertainty

Bitcoin’s price action is drawing intense scrutiny as it approaches a pivotal resistance zone, with traders anticipating a potential breakout or breakdown that could dictate the next major trend. Analysts highlight key technical levels, including the VWAPSR and Fibonacci retracement, while macroeconomic factors add further complexity to the short-term outlook.

Bitcoin Approaches Critical Resistance Level

Bitcoin has shown signs of recovery after a recent bounce but is now approaching a major resistance zone. This zone includes the VWAPSR, 0.618 Fibonacci level, and long-standing dynamic resistance. A decisive breakout or breakdown from this region could define the next major trend for Bitcoin. Traders are closely watching this area for potential signals on the next big move.

Bitcoin May Face Short-Term Pressure Despite Recession Hopes

Markus Thielen, head of research at 10x Research, warns that Bitcoin enthusiasts expecting a bullish impact from a potential recession may need to temper their optimism. He highlights that widening credit spreads indicate deepening recessionary concerns and that while recessions often lead to monetary easing and rate cuts, Bitcoin could face initial headwinds before gaining momentum. Historically, Bitcoin sells off when events like Federal Reserve rate cuts occur, and the first cut might not be impactful and confirms economic weakness.

Bitcoin Attempting Double Bottom According to Bollinger Bands Creator

As Bitcoin hovers around $82,000, investors wonder if the cryptocurrency has found its floor. John Bollinger, creator of Bollinger Bands, suggests technical signals indicate a rebound scenario. The weekly charts of BTC show a double bottom in the shape of a W, which is a historical marker of bullish reversal according to Bollinger. The %b indicator plays a key role in this setup, with specific conditions triggering the W mechanics.

Weekly Recap: Crypto Emerges From the Tariff War

Tariffs dominated the week, initially sending stocks and crypto lower. However, with the pause of new non-China tariffs for 90 days, markets rebounded. Bitcoin returned to $82,000, with analysts debating whether it showed ’safe haven’ qualities or was a risk-asset. The consensus was that Bitcoin performed resiliently.

Public Keys: Weekly Crypto Roundup

This week in crypto, Robinhood (HOOD) and MARA Holdings ended the week in the green, while Coinbase faces competition for its custody business. GDP isn’t a favored metric for asset managers in the crypto space. Robinhood, the trading platform, was trading at $42.75 two hours before the closing bell, up 5.8% since last Friday. Bitcoin miner MARA Holdings also ended the week higher. Meanwhile, Coinbase is facing competition in the custody business, and analysts suggest that GDP isn’t a relevant metric for assessing the value of crypto assets.