📉 Bitcoin Forecasts Price Drop - Initiate Panic Mode? (19 Mar 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where we are trying to decide . . .

Which is more entertaining - paint drying on a wall or watching Bitcoin’s current price movement? 😂

Here is what we have for you today!

📊 BLOCKCHAIN BREAKDOWN

• Market Overview (7-Day) - Top Gainers & Losers!

• Bitcoin Technical Analysis - Bearish “Cup and Handle” Formation Upon Us!

• What to Anticipate Next - Strap on your Seatbelt!

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - Record-Breaking $517 Million Bet that Bitcoin Dips, MicroStrategy's Smallest Bitcoin Purchase, "Stablecoins," to Redefine Payment Systems & more!

MARKET OVERVIEW (7-DAY)

BITCOIN TECHNICAL ANALYSIS

The days of 1,000% moves within 24 hours may be past us . . .

The crypto market is starting to slow down and the price swings we know and love are becoming rare to see.

As we said in our last newsletter, many traders believe the bull run is over, and we are heading back into bearish territory.

Do we believe this? Not necessarily, but when the price is down it is never easy to vouch for a bull run.

Either way, my dreams of a red Ferrari won’t allow the bull run to be over!

So, what do we have for you today?

We are covering where we believe Bitcoin is heading and the variables that are either going to push it further down or raise it back up!

But before we get to all of today’s awesomeness . . . a word from our sponsor!

Thank you to Mode Mobile for sponsoring today’s newsletter!

Even though the market seems to continue downwards, March is only at -0.8% compared to February that ended at -17.39%.

Last March, we were at +16.81% and the March before that at +22.96%.

Granted, March can be “hit or miss”. In 2018, March ended at -32.85% and in 2020 it ended at -24.92%.

Let’s go ahead and take a look at Bitcoin’s daily chart to see what we can anticipate with Bitcoin movement.

Byte, please give us a breakdown for today!

🤖 Byte the Bot: “Current candlestick is bearish. Pattern detected: inverse cup and handle outlined in yellow. Probability of downward movement is 71.55%.

Good luck, humans... you're gonna need it.” 🤖

Thank you, Byte. Sympathetic per usual, I see.

As Byte indicated, we are currently in an inverse cup and handle formation, and it is “textbook!”

It doesn’t necessarily mean that the formation will finish, but we need substantial moves to happen to break the formation.

Unfortunately, Bitcoin did not hold the support line shown above - we believe the inverse cup and handle formation was too strong . . .

However, we are still looking at the same resistance levels as before.

• $91,247.39

• $92,064.05

The ones that are now added due to the recent movement are:

• $84,851.23

• $85,372.45

Never a fun thing to see so much resistance built up, but this is our next question . . .

📈 What does Bitcoin need to do to move higher? There is a major variable that needs to become a reality for higher movement.

No, it isn’t solely overall volume or even price action . . .

What could it be? Check out our “What to Anticipate” section below for more!

🧠 Trading Fact! Trading against the market’s momentum can result in massive losses. Just because you want the market to go up doesn’t mean it will!

WHAT TO ANTICIPATE

This is a pivotal time for Bitcoin’s movement!

We are currently in a bearish formation and have one major support line that is holding it all together before we tank!

Maybe a bit too dramatic . . . but I believe that it gets the point across.

In our last newsletter on Saturday (March 15th), we stated:

Believe it or not, Bitcoin did dip back to the “pullback area” as it went to $81,189.27.

Thankfully, momentum pushed it back above the “pullback area,” but we are still not in safe waters.

🤷‍♂️ So, what is the major variable for Bitcoin’s moon? Bitcoin’s long-short ratio and right now it shows bias towards the “short” side.

What is the short side? It shows that traders are “betting” that Bitcoin’s price will move lower . . .

It doesn’t help that we have a “bet” of over $500 million to lead the way! (Check out our top news stories below!)

To place the severity of this move in perspective, at one point, cryptocurrency exchange “Bitfinex” was 59.87% short bias!

🌍 In a perfect world: Bitcoin will establish support above the top of the “pullback area” at $81,322.51.

This will change the bearish inverse cup and handle formation into a bullish bull flag formation!

In our reality, many traders are anticipating further movement down and are trading accordingly.

📉 What are our current bearish variables? Unfortunately, there are many to count:

• Inverse cup and handle formation

• Wicking candlesticks indicating bearish pressure

• Approaching the “pullback area” . . . yet again

The list goes on and on . . .

 🧠 Keep in mind! It is not too late for support to be formed. We can do so at $81,322.51 and move upward from them.

We have experienced a -29.81% correction from Bitcoin since the all-time high price of ~$109,000.

There is still potential to “turn this thing around!”

🤔 What are our final thoughts? If Bitcoin dips below $81,322.51, it is highly likely that it will continue the bearish inverse cup and handle formation.

This will cause Bitcoin to re-enter the “pullback area” and continue down towards $76,000. If we break below the “pullback area” - well, it was an awesome ride . . .

🧠 Don’t Forget! Bitcoin’s movement is highly volatile. It can easily switch from bearish to bullish! Keep your head up and HODL!

BULL MARKET BULLETIN 📌

MicroStrategy’s Smallest Bitcoin Purchase on Record! MicroStrategy, the world’s largest public corporate Bitcoin holder, recently purchased 130 Bitcoin at $10.7 million! 👀 It is still a substantial amount of Bitcoin, but let’s keep in mind that their first Bitcoin purchase was 21,454 Bitcoin for $250 million in August of 2020! Even so, they are now 774 Bitcoin away from reaching a mind-boggling milestone . . . 500,000 Bitcoins!

Record-Breaking Bitcoin Short Position! For those not familiar, a “short position” is one that makes money while the price goes down. Set by an influential “whale,” this Bitcoin “short position” is a staggering $517 million! 🤯 Now get this . . . some believe that this short position is a trick into getting traders to buy Bitcoin and boost the price. Why would that make sense? Click above to find out!

Will “Stablecoins” Redefine the Global Payment Systems? In 2021, we experienced a “boom” in the financial technology sector with startups raising over $229 billion globally! Founded in 1973, SWIFT remains the backbone for cross-border payments. Why does this matter? Because stablecoins can do it quicker and cheaper than ever before! 😎 Being that stablecoins are pegged 1:1 to their fiat counterparts, it wouldn’t be out of the ordinary as we are already fully digital. I mean . . . who remembers the last time they used cash?