📉 Bitcoin's Bearish Move – Fasten your Seatbelt! (8 Mar 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where we deliver a small glimpse of the future with our Bitcoin analytics.

With a few dad jokes inserted here and there! 😂

Before we get to the jokes . . .

Here is what we have for you today!

📊 CRYPTOCURRENCY ANALYSIS

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

• Bitcoin Technical Analysis - Continuing the Descending Triangle!

• What to Anticipate Next - Why is Everything Bearish?

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - $400M Bitcoin Wallet Activates after 9 Years, White House Hosts 1st Crypto Summit, Crypto Exchange Pursues Stock Market Listing & more!

MARKET OVERVIEW (7-DAY)

BITCOIN TECHNICAL ANALYSIS

As much as we want to fully understand Bitcoin movement . . . we are always left with questions as to why?

The US White House hosts its 1st annual “Crypto Summit” - which you would think would be an amazing milestone and get investors excited!

Nope! Bitcoin goes from $90K to $86K following the summit. Not good enough for Bitcoin investors, I suppose . . . 😅

With that rant over, this goes to show that there is a larger mechanism in the background pulling the levers.

Don’t rely on emotion when predicting cryptocurrency movement, you have to look at the charts.

Industrial traders that are employed to trade with up to hundreds of millions of dollars don’t buy into the hype and neither should you!

So, what is this newsletter all about? Analyzing Bitcoin movement, taking the emotion out of the equation, and being 1 step ahead!

Before we dive into the newsletter, a quick word from today’s sponsor.

Thank you to The Flyover for sponsoring today’s newsletter!

So, with all of this downward pressure on Bitcoin’s movement, March is shaping up to be another negative month, huh?

Actually . . . no. Believe it or not, Bitcoin is still positive at +2.25%.

Last year in March, Bitcoin was +16.81% and we would love to see a repeat of a positive double-digit month.

So, what do we currently see in Bitcoin’s movement aside from a rollercoaster from the 9th ring of hell?

Great question! Byte, what do you have for us today?

🤖 Byte the Bot: Upward movement rejected! Descending triangle pattern persists with a 62.4% probability . . . resistance detected at $87,000. 🤖

Thank you, Byte! That doesn’t sound worrisome at all . . .

🧠 Remember! The chart above has not altered much throughout our newsletters . . .

The downward resistance line was drawn weeks ago, and Bitcoin continues to follow the trendline.

With that said, Bitcoin has shown us many bearish variables in the past 4 weeks:

1. Descending Triangle has Formed

2. Three Resistance Areas have Rejected Higher Movement

   • $92,064.05

   • $91,247.39

   • $86,936.90

3. A Massive Inverse Cup and Handle Formation May Form

Let’s zoom into Bitcoin’s recent candlesticks to see if I need to schedule a wake for my portfolio . . . Byte, help us out!

🤖 Byte the Bot: Bitcoin’s daily price action zoomed 350% . . . paycheck status: pending. 🤖

Byte, what a funny robot! Let’s focus on the first part of that sentence . . . thank you for the zoom.

So, what do we see in the current price action (the furthest right candlestick)?

📊 The current candlestick is a “hammerhead”! Why should we care? Because even though it is bearish - it shows bullish potential

Want to see our Bitcoin movement predictions? Check out the “What to Anticipate” section below!

🧠 Trading Fact! Asset price movement is a two-sided coin! There must be both upward movement and downward movement.

WHAT TO ANTICIPATE

Are we confident with Bitcoin’s short-term movement being positive? No one wants to hear this, but no.

As we said in our newsletter dated the 5th of March . . .

If you refer back to our first Bitcoin analysis image, you will see that Bitcoin did break through all 3 resistance areas!

We also stated last week that:

However, dot, dot, dot, there was no price confirmation only price rejection!

We are currently following a descending triangle formation that leads us directly to the “pullback area.”

🤔 Should we initiate “Operation Panic”? Place your Pokémon card purchase orders and Bitcoin sell orders on hold, it is not yet time to panic.

Bitcoin is a long-term strategy. You have to expect bumps along the way, but we still hold firm that mid this year is projecting to be massive!

🧠 Keep in mind! Just a year ago on the 8th of March in 2024, Bitcoin was $68,366.50. We are still nearly $20,000 higher than 12 months ago!

📊 Any bearish/bullish formations soon to form? Great question . . . the formations that we see and project in the near future are:

1. Descending Triangle (Bearish)

2. Inverse Cup and Handle (Bearish)

3. Bear Flag Formation (Bearish)

It may not be the news everyone is looking for, but we do have positives . . .

1. The Price Gap has been Filled

   • This Allows Upward Movement

2. The Current Candlestick Shows Bullish Potential

🤔 Why do we like Bitcoin’s movement? There is potential for continued sideways movement, which we desperately need!

We all want “moon” and “rocket dog coin” but creating support is imperative! This is why we had such a drastic downward movement . . .

Bitcoin’s value increased exponentially without creating support along the way, which is unhealthy, and we now see the effects from it.

📅 What are we thinking timeline wise? As we continue to say . . . we still believe that May - July timeframe this year will be massive!

Stay calm, cool, and collected. We are now playing the “waiting game.” This game must be your favorite in the world of cryptocurrency!

🧠 Don’t Forget! Don’t let emotion control your trades! In other words, don’t let some 19-year-old kid on Tik-Tok dancing on a Ferrari be your deciding factor!

BULL MARKET BULLETIN 📌

Cryptocurrency - From “Oppressed Industry” to “Centerpiece”! The White House Crypto Summit marked a “truly historic day at the White House”. On the 7th of March, President Trump announced that he is intending to make cryptocurrency policy national while making the US a global hub for blockchain innovation. 😮 For his economic strategy, cryptocurrency will be the center - marking a major policy shift for the US blockchain industry! Unfortunately, many investors and traders were left wanting more from the Crypto Summit . . .

Cryptocurrency Exchange Strives for Stock Market Listing! Broadcasting a more friendly regulatory environment under the Trump administration, Kraken - a cryptocurrency exchange with over $1B in daily trading volume - has set its target to be listed on the New York Stock Exchange by 2026! Since the SEC has dropped the case against them, they are now able to make that first step. The question now is . . . how much will each share’s price start at and how many other exchanges will join?

Massive Bitcoin Wallet Activates after 9 Years! A cryptocurrency wallet that was linked to the darknet marketplace - Nucleus - just had its first transaction after 9 years! How much does the wallet hold? Over $400 million worth of Bitcoin! 🤯 The wallet has been dormant since April of 2016 with 5,000 Bitcoin in its holding after the marketplace shut down. At the time of the shutdown, the wallet was only worth $2.1 million - that is a 18,947.60% increase!