Bitcoin is having trouble recovering after a significant price drop from around $125,000 in October 2025. It’s currently trading around $71,100, and the overall trend still points downwards. While it’s tried to bounce back several times, Bitcoin hasn’t been able to break past key price levels, meaning buyers haven’t taken control yet.
Bitcoin Price Analysis: The Daily Chart
Looking at the daily chart, Bitcoin is currently moving within a clear downward trend channel. Both its 100-day and 200-day moving averages are trending downwards, around $80,000 and $92,000 respectively. The $75,000 to $80,000 price range, which previously supported the price for much of late 2025, is now acting as a resistance level, and every attempt to push the price higher since February has failed at this point.
Currently, the price finds strong support between $60,000 and $62,000, a level that prevented further drops during the quick price dip in February. If the price falls below this, it could test the $50,000 level, a possibility not currently reflected in the Relative Strength Index (RSI), which is starting to recover from being oversold. Conversely, buyers need to confidently close above $75,000 to signal a shift in the daily trend and open the door for potential gains towards $80,000.
BTC/USDT 4-Hour Chart
Looking at the 4-hour price chart, Bitcoin has been gradually increasing in value since late February, trading within a range of approximately $66,000 to $75,000. Recently, the price attempted to break above $75,000 but fell back down to around $68,000. Now, the price is rebounding strongly and is currently around $71,000, settling in the middle of this recent upward trend.
The Relative Strength Index (RSI) is starting to rise from around 40, suggesting a slight advantage for buyers right now. However, the price still needs to break above the $74,000 to $76,000 resistance area. If the price falls below the lower trendline around $66,000, it could lead to a faster drop toward stronger support levels.
Sentiment Analysis
The Coinbase Premium Index suggests that demand from US-based buyers is weakening. Since October, the index has mostly shown negative values, with only short periods of positive movement. This indicates that buyers and sellers using Coinbase aren’t currently leading price changes, and the latest reading of -0.02 confirms this trend.
The current situation is especially interesting when compared to mid-2025, when the price difference remained positive as Bitcoin rose to $125,000. The ongoing negative difference now suggests that US investors are either holding back or selling, making a strong price recovery less likely based on demand alone. For US investors to become optimistic again, the price needs to break through important resistance levels.
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2026-03-23 18:37