The Gold-to-Bitcoin Rotation Narrative Gains Strength: A Data-Driven Review
Bitcoin is once again attempting to reclaim the $90,000 level, but price action remains capped below this key psychological threshold. Despite several short-lived relief rallies, momentum has failed to follow through, reinforcing growing concerns that the broader market structure is weakening. From a trend perspective, Bitcoin is now trading below the 50-3D moving average (blue), which has started to slope downward, signaling weakening momentum. The failure to reclaim this level suggests that recent upside moves are corrective rather than impulsive.Related Reading
Below the current price, the 100-3D moving average (green) sits near the $85,000–$86,000 zone and has acted as interim support during the rebound. A sustained loss of this area would likely expose BTC to a deeper retracement toward the 200-3D moving average (red), currently rising near the low $80,000 region.
The sell-off was accompanied by elevated volume. While the rebound has occurred on comparatively lighter participation, pointing to a lack of conviction from buyers. Structurally, Bitcoin is consolidating in a lower range. With lower highs and compressed volatility suggesting a pause rather than a trend reversal.
For bulls, reclaiming and holding above $90,000 and the declining 50-3D moving average is critical to invalidate the bearish bias. Until then, price action favors range-bound trading with downside risk still present.
Featured image from ChatGPT, chart from TradingView.com
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