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bitcoin

Bitcoin Monthly Close Keeps Bullish Momentum Alive, But A Drop Below $80,000 Could Be Devastating

Ash Tiwari
by Ash Tiwari
6 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

According to a recent X post by noted crypto analyst Titan of Crypto, Bitcoin (BTC) closed its March 2025 monthly candle just above the 38.2% Fibonacci retracement level, keeping the bullish scenario intact for the leading digital asset.

Bitcoin Bullish Scenario Still Alive

Despite starting the year sluggishly, BTC closed the first quarter of 2025 on a strong enough note, reinforcing its bullish outlook. Crypto analyst Titan of Crypto highlighted that BTC’s March 2025 monthly candle closed above the 38.2% Fibonacci retracement level.

toc
Source: Titan of Crypto on X

For the uninitiated, Fibonacci retracement levels are horizontal lines used in technical analysis to identify potential support and resistance levels based on the key Fibonacci sequence ratios – 23.6%, 38.2%, 50%, 61.8%, and 100%. 

The Fibonacci retracement levels are drawn by measuring the vertical distance between a high and low point on a price chart, and then applying these percentages to predict where price corrections may occur.

Related Reading: Bitcoin Rally Incoming? M2 Money Supply Rebound Signals Big Moves Ahead

In a separate X post, fellow analyst Master of Crypto noted that Bitcoin’s Hash Ribbon Buy Signal has also turned bullish. He emphasized that this signal is “one of the most powerful and consistent signals in BTC’s history.”

master of crypto
Source: Master of Crypto on X

However, analyst Rekt Capital cautioned that despite BTC’s renewed momentum, fueled by a strong Relative Strength Index (RSI), it has not yet resulted in a significant price reversal. The analyst explained:

Ever since BTC’s Daily RSI dropped into the sub-25 levels, the RSI has been generally upticking. However this hasn’t translated into a full-blown price reversal just yet. For price to reverse to the upside, it would need to break its Daily Downtrend.

rekt
Source: Rekt Capital on X

BTC Must Resist Falling Below $80,000

Offering a contrasting perspective, seasoned crypto analyst Ali Martinez warned that BTC must hold above the $80,000 level. He stressed that if BTC drops below this threshold, “there is little to no support until $70,000.”

ali1
Source: ali_charts on X

In another X post, Martinez highlighted four crucial support levels for BTC below $80,000, based on price bands. The analyst highlighted $76,180, $58,080, $43,740, and $39,980 as four critical support levels. 

ali2
Source: ali_charts on X

That said, technical indicators suggest that now might be an opportune time to accumulate BTC. In a recent analysis, crypto trader Merlijn The Trader highlighted that Bitcoin is currently following the bullish ‘megaphone pattern.’

Related Reading: Bitcoin NVT Golden Cross Suggests Price Pullback Likely To Continue – Details

Furthermore, corporate adoption of BTC continues to grow. MicroStrategy Executive Chairman Michael Saylor recently teased another massive BTC acquisition in the near future. At press time, BTC trades at $83,630, up 1.5% in the past 24 hours.

bitcoin
BTC trades at $83,630 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, charts from X and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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