Source: Cointelegraph/TradingViewCommenting on BTC price action, many market participants nonetheless favored caution.“Retesting our 84k area of interest,” popular trader Roman wrote in his latest X analysis of the 4-hour BTC/USD chart. Roman referenced the relative strength index (RSI) while forecasting a return to levels closer to the $80,000 mark.“To me it looks like we should begin to head lower as we have a break down and bearish retest on LTF,” he continued. “RSI also retesting the 50 area with stoch overbought.
Source: CoinGlassIn its latest analytics report, “Bitfinex Alpha,” released on March 31, crypto exchange Bitfinex acknowledged that 2025 was Bitcoin’s worst first quarter in years.“Any buying momentum is currently being capped at the $89,000 level—coinciding with the previous range lows seen in December 2024, and acting as a firm resistance level to further gains,” contributors observed. “This resistance is also coinciding with further downside in equities, with the S&P 500 closing the week 1.5 percent lower.”BTC/USD 1-week chart (screenshot).
Related: Worst Q1 for BTC price since 2018: 5 things to know in Bitcoin this weekAmid a broad lack of upside catalysts, BTC/USD traded down 10.8% year-to-date at the time of writing and 1.1% lower for March, per data from monitoring resource CoinGlass.
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Author / Journalist: Cointelegraph by William Suberg
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