- Bitcoin’s Ascending Triangle Hints at Breakout Toward $91,500 if Resistance Clears.
- MACD Convergence and RSI Rebound Could Signal Bitcoin’s Bullish Trend Reversal.
- MicroStrategy’s $21B BTC Plan Offsets ETF Outflows, Strengthening Institutional Demand.
Bitcoin ($BTC) is currently consolidating within an ascending triangle, a pattern that often signals an imminent breakout. With its price hovering around $83,511.51, the leading cryptocurrency has shown a slight 0.92% gain in the last 24 hours despite a 6.29% decline over the past week.
Analyst Ali Martinez, suggests that a decisive move above the key $84,000 resistance level could ignite a 9% rally, pushing Bitcoin toward $91,500. However, failure to break through may lead to a pullback, testing lower support levels near $80,800 or even below.
#Bitcoin $BTC is consolidating within an ascending triangle. A breakout from this pattern could trigger a 9% price move. Watch closely! pic.twitter.com/knpdtSkvl3
— Ali (@ali_charts) March 14, 2025
Technical Indicators Suggest a Possible Reversal
Several technical indicators highlight Bitcoin’s current market state. The Relative Strength Index (RSI) sits at 42.92, slightly below the neutral 50 level. This indicates weak momentum, but a climb above 50 could confirm renewed bullish strength.
Meanwhile, the Moving Average Convergence Divergence (MACD) remains negative at -3,192, signaling continued bearish sentiment. However, the MACD lines are converging, which suggests a possible trend reversal if a bullish crossover occurs.
Market Activity and Liquidation Trends
Bitcoin’s price movement has been characterized by fluctuations and high liquidation activity. Notably, significant liquidations in long positions occurred as BTC neared resistance levels, while short liquidations surged during price dips.
Recent consolidation around the $80,000 level has introduced increased volatility, with liquidation spikes in both directions. Despite this, Bitcoin continues to trade well above the $60,000 mark, which remains a strong support level.
MicroStrategy’s $21 Billion Bitcoin Accumulation Plan
Institutional demand for Bitcoin remains robust, with MicroStrategy, led by Michael Saylor, doubling down on its BTC accumulation strategy. The firm announced plans to raise $21 billion to acquire more Bitcoin, reinforcing its status as the largest corporate Bitcoin holder.
Currently, MicroStrategy holds 499,096 BTC, purchased at a total cost of $33.1 billion. This aggressive accumulation strategy could counterbalance recent outflows of $4.1 billion from Bitcoin exchange-traded funds (ETFs) since February 24.
Regulatory Developments and Market Outlook
On the regulatory front, the U.S. government is reportedly considering acquiring a stake in Binance, signaling a potential shift in crypto policy. The SEC is also reviewing in-kind ETF creations and redemptions, a move that could enhance ETF liquidity and reduce price premiums.
Additionally, Acting SEC Chairman Mark Uyeda has proposed eliminating crypto-specific restrictions in certain regulatory provisions, indicating a potentially more favorable stance toward digital assets.
