BTC technical indicators mainly point to a bearish trend. The Ishimoku cloud indicates the strengthening of the downward momentum. Despite this, analysts see possible signs of bitcoin recovery, citing short-term EMAs. The Ishimoku Cloud Indicates A Bearish Scenario The Ishimoku cloud shows a bearish bias for bitcoin. The red cloud (Kumo) sits above the current price, forming a resistance zone. BTC needs to overcome it to reverse the trend. The cloud is also expanding slightly, indicating a strengthening of the downward momentum. The Leading Span A line (green) is below the Leading Span B line (red), confirming the bearish outlook. Price is also below the blue Tenkan line (conversion line) and the red Kijun line (base line), indicating continued bearish pressure. The Tenkan line has started to level off, which usually indicates a pause or consolidation in the downtrend. However, it remains below the Kijun line, which reinforces the bearish bias. The green Chikou Span line (lagging line) is below the current price and the cloud. This also confirms the continuation of the bearish trend. If the price does not overcome the cloud resistance and the Tenkan line does not cross the Kijun line from below to above, the bearish momentum is likely to continue. The Number Of Whales Has Been Declining For The Last 5 Days The number of bitcoin whales, i.e. addresses with a balance of at least 1,000 BTC, grew steadily until it peaked at 2,054 on February 22. Since then, the figure has started to decline, and now stands at 2,042 addresses. Whales can significantly influence the price of an asset. Their accumulation or sale often precedes major price movements. The recent decline in the number of whale addresses may indicate short-term selling pressure. Large holders may lock in profits or spread assets across different wallets for safety. This could cause volatility or downward pressure on the price in the near term. Despite the recent decline, the number of large holders of bitcoin remains high. This indicates continued interest from institutional investors and wealthy investors in bitcoin as a means of long-term storage. MEXC's Chief Operating Officer, Tracy Jean, noted: “The long-term trend remains unchanged: institutional demand and the development of bitcoin's infrastructure, including ETFs and new investment products, continue to strengthen its position. However, the short-term outlook remains under pressure: the market is going through a phase of excess leverage liquidation and reduced risk appetite. This is good for the long-term healthy development of BTC.” Will BTC Be Able To Recover Above $90,000 Bitcoin faces strong resistance at the $85,985 level. If it fails to turn it into support, the price could drop to $82,000, continuing the current correction. The proximity to this resistance level is causing tension among traders who are keeping a close eye on the direction of the volatile market. Despite the current bearish configuration of exponential moving averages (EMAs), where short-term indicators sit below long-term indicators, there are signs of possible optimism. “Despite the current decline, bitcoin's long-term outlook remains positive. Institutional investors continue to increase their investments in BTC, and infrastructure developments, including new ETFs and payment solutions, reinforce its status as digital gold. The price should recover to $96,000-$100,000 in the near term, confirming that the market is ready for new growth. If the pressure persists, a deeper correction is possible” - Maria Carola, CEO of StealthEx. The upward trajectory of the short-term EMA lines indicates a possible trend reversal in the near future. If a bullish cross is formed, the price may accelerate the growth and test the resistance at $93,000. A breakdown of this level could push the currency to the next target of $96,375. This will signal the resumption of a broader uptrend.
