Bitcoin (BTC<\/a>) circled $83,000 at the March 14 Wall Street open as traders set out requirements to flip bullish.<\/p>\n BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD gaining up to 5% on the day before consolidating.<\/p>\n A characteristic lack of momentum<\/a> at the start of the US trading session persisted, with risk assets still wary of macroeconomic and geopolitical surprises, notably in the form of US trade tariffs.<\/p>\n Assessing the current status quo on the daily BTC\/USD chart, popular trader and analyst Rekt Capital reported increasing odds of a bullish divergence playing out on the relative strength index (RSI<\/a>) metric.<\/p>\n Here, RSI should make higher lows as the price forms lower lows to indicate waning seller dominance.<\/p>\n \u201cPromising early-stage signs of a Bullish Divergence developing,\u201d he wrote<\/a> in one of the day\u2019s posts on X.<\/p>\n \u201cReclaiming the previous lows of $84k could set price up to further build out this Bull Div.\u201d<\/p><\/blockquote>\n BTC\/USD 1-day chart with RSI data. Source: Rekt Capital\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Another post<\/a> flagged a key horizontal resistance line currently under attack from bulls.<\/p>\n \u201cBitcoin continues to Daily Close below the blue resistance. However, each rejection from this resistance appears to be weakening in terms of follow-through to the downside,\u201d Rekt Capital commented.<\/p>\n \u201cIf this weakening in the resistance persists… This should open up the opportunity for BTC to finally Daily Close above this $84k resistance, reclaim it as support, and finally trend continue to the upside.\u201d<\/p><\/blockquote>\n BTC\/USD 1-day chart with RSI data. Source: Rekt Capital\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Keith Alan, co-founder of trading resource Material Indicators, meanwhile focused on the 21-day and 200-day simple moving averages (SMAs). At the time of writing, these stood at $83,740 and $86,800, respectively.<\/p>\n \u201cBTC is poised to make another run at reclaiming the 200-Day MA, but it will only count if we get a sustained close above it, AND it is closely followed by an R\/S Flip at the 21-Day MA,\u201d an X post<\/a> on the topic read.<\/p>\n BTC\/USD 1-day chart with 21, 200SMA. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n Alan referenced one of Material Indicators\u2019 proprietary trading tools, calling for an increase in \u201cbullish momentum.\u201d<\/p>\n \u201cNotice how Trend Precognition’s A1 Slope line is showing a developing momentum shift,\u201d he commented alongside a corresponding chart.\u00a0<\/p>\n \u201cReverting from downward momentum is step 1. We need to see an increase in bullish momentum from here, with bids moving higher to stage a sustainable rally.\u201d<\/p><\/blockquote>\n BTC\/USD 1-day chart. Source: Keith Alan\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Elsewhere, the S&P 500 saw some welcome relief at the open after dropping 10% from its latest all-time highs to officially begin a technical correction.<\/p>\n Related: <\/strong><\/em>Bitcoin panic selling costs new investors $100M in 6 weeks \u2014 Research<\/strong><\/em><\/a><\/p>\n Meanwhile, gold set new record highs of over $3,000 per ounce as investors sought shelter from turbulent macro conditions.<\/p>\nBitcoins BTC price RSI teases key \u201cbullish divergence\u201d<\/h2>\n
Bitcoins Gold leaves Bitcoin in the dust<\/h2>\n