Bitcoin Reclaims $80,000 Amid Altcoin Season Hints
Bitcoin is currently struggling to break above its 200-day simple moving average ($84,000).
However, the good news is that bulls haven’t allowed much room for bearish control.
Bitget Research chief analyst Ryan Lee told Cointelegraph that a weekly close above $81,000 would indicate strength.
On the downside, a sharp decline could follow if the price falls below $76,000.
Another cautious perspective came from Markus Thielen, head crypto researcher at 10x Research.
Thielen told Cointelegraph that Bitcoin’s chart structure “suggests market indecision rather than a straightforward bullish consolidation.”
He remains skeptical about a strong recovery in Bitcoin at this point.
Still, Bitcoin network economist Timothy Peterson holds a more optimistic view.
In a recent X post, Peterson said that April and October are the two months that generate a large portion of Bitcoin’s annual performance, suggesting a possible rally to a “new all-time high before June.”
The downsloping 20-day exponential moving average (EMA) at $86,188 reflects bearish control.
However, a positive divergence on the relative strength index (RSI) hints that selling pressure may be easing.
If Bitcoin declines from its current level, the BTC/USDT pair could fall to $80,000, and potentially further to $76,606.
Conversely, a rebound and breakout above the 20-day EMA would indicate that the breakdown below the 200-day SMA has been rejected.
This could lead the pair to rally toward the 50-day SMA ($93,033), and potentially up to the psychologically significant $100,000 level, though that may be a tough resistance to surpass.
On the 4-hour chart, the 20-EMA is flattening, and the RSI sits just above the midpoint—suggesting a balance between buyers and sellers.
For the bulls to gain control, they need to push the pair above the resistance line. This could propel the price to $92,810 and then $95,000.
Support levels lie at $80,000 and $78,000. If these levels fail, a decline below $76,606 becomes more likely.
BNB has been recovering since hitting $507 on March 11, but is now facing resistance near the 50-day SMA at $621. The 20-day EMA ($595) is a key support to monitor.
A bounce from this level would suggest that bulls are buying dips, increasing the likelihood of a breakout above the 50-day SMA. If that happens, the BNB/USDT pair could rally toward $686.
However, if the price drops below the 20-day EMA, it would signal strong bearish defense at the 50-day SMA, potentially dragging the pair down to $550.
On the 4-hour chart, the 20-EMA has turned upward and the RSI is in positive territory—indicating a bullish trend.
There's resistance at $632, but a break above this level could push the price to $680.
This bullish scenario would be invalidated if the price dips below the 20-EMA. In that case, the pair might fall to the 50-SMA, which could attract buyers.
A drop below the 50-SMA would shift the advantage back to the bears.
Toncoin surged from $2.35 on March 11 and reached the 50-day SMA at $3.64 by March 16.
A correction from that level is likely to find support at the 20-day EMA ($3.15).
If the price holds above this level, it would suggest a shift in sentiment from selling on rallies to buying on dips.
This improves the chances of a breakout above the 50-day SMA, potentially sending the TON/USDT pair to $4, then $5.
On the other hand, a break below the 20-day EMA would imply that bears are still active at higher levels, potentially pushing the price down to $2.50.
The 4-hour chart shows selling pressure near $3.60, but bulls are expected to defend the 20-EMA.
A strong bounce off this level could drive the price above $4.15. If successful, the pair may climb toward $4.67.
However, a break below the 20-EMA would suggest continued bearish activity. That could lead to a drop toward the 50-SMA and then down to $2.50.
Gate Token (GT) is forming a symmetrical triangle pattern, signaling indecision between bulls and bears.
The 20-day EMA ($21.06) has flattened, and the RSI has reached the midpoint, suggesting weakening selling pressure.
A breakout above the triangle would signal a resumption of the upward trend, potentially lifting the GT/USDT pair to $24 and then to $26.
If the price instead moves lower and closes below the 20-day EMA, the pair may stay within the triangle for a while longer.
A breakdown below the triangle would shift control to the bears.
On the 4-hour chart, sellers are struggling to keep the price below the 20-EMA, suggesting buying interest at lower levels.
A push above the triangle resistance line could spark a rally toward $24.
If the price reverses and breaks below the 50-SMA, it would signal fading bullish momentum and could drag the pair down to $19 and possibly the lower support boundary.
Cosmos broke above its 20-day EMA ($4.31) on March 15, indicating decreasing selling pressure.
A positive RSI divergence supports the view that bearish momentum is slowing.
The 50-day SMA ($4.73) might act as resistance, but a close above $5.15 could clear the way for a rally to $6.50.
The 20-day EMA remains the key support. A break below it would suggest that bears are still selling into rallies, possibly pulling the ATOM/USDT pair down to $3.50.
The 4-hour chart shows a short-term pullback, which may reach the 20-EMA.
A rebound from this level would indicate strong buying interest and improve the odds of a breakout above $5.15. That could trigger a move to $5.50 and then $6.50.
If the price breaks below the 20-EMA, this outlook would be invalidated. The pair may then slide to the 50-SMA and potentially to $3.80.
Sources:
https://cointelegraph.com/news/bitcoin-reclaims-80-k-zone-as-bnb-ton-gt-atom-hint-at-altcoin-season