Bitcoin Recovery Following Weak Q1 2025 Performance
While Bitcoin had a weak performance in the first quarter of 2025, it is experiencing a strong recovery after the first week of April.
At this point, Bitcoin rose above $97,000 again following news that the US and China will resume tariff talks.
While moving at $96,000 levels ahead of the critical FED decision, market analyst Omkar Godbole said that the Bitcoin chart indicates an upward trend.
According to the analyst, Bitcoin is showing similar technical patterns to those that preceded its late-2024 rally.
MACD Indicator!
Analyzing the popular MACD indicator, which is primarily used to identify trend reversals and reversals, the analyst points to a possible bullish reversal, with the golden cross of the MACD and moving averages likely to form soon.
On this point, the analyst noted that Bitcoin price initially fell after the MACD turned negative in mid-February but quickly found support at the 50-week SMA in March and has since bounced back above $90,000.
Stating that this situation reflects last August and September, the analyst noted that the MACD switched to an upward trend in mid-October and resulted in a rise from $70,000 to $100,000 by December.
50 and 200 Day Averages!
Secondly, examining the 50- and 200-day SMAs, the analyst said, “The two averages formed a death cross about four weeks ago, indicating a bearish trend, but this turned out to be a bear trap. Bitcoin found support around $75,000 and changed direction.”
At this point, the analyst states that the 50-day SMA has recently started to rise again and may soon rise above the 200-day SMA, forming a golden cross indicating an upward trend in the coming weeks.
Stating that this situation also reflects the trend of the past year, the analyst said, “The death cross intersection in August created a bottom, which was immediately followed by a golden intersection that started a rise above $70,000 and eventually led to a rise above $109,000, reaching new highs.”
As a result, the analyst notes that while history does not guarantee future results, indicators on the Bitcoin chart point to a possible rally in the coming months and BTC could reach new ATHs.
*This is not investment advice.
