These Levels in Bitcoin Could Be the Bottom: 10x Research Signals Rally in Altcoins! - Coin Bulletin

Bitcoin (BTC) may experience a recovery towards the $90,000 level following Donald Trump's indication of flexibility in tariffs and the FED's stance against inflationary pressures.

Crypto analyst Markus Thielen stated in his report dated March 23 that Bitcoin is making efforts to establish its bottom point, and that Trump raising the flexibility in mutual tariffs on April 2 and exhibiting a softer approach compared to his previous harsh statements has contributed to this recovery.

He also stated that the decision to ignore short-term inflation pressures at the FED meeting on March 18-19 prepared the ground for a future relaxation strategy.

Thielen stated that Bitcoin's futures indicators show a positive trend and that BTC’s 21-day moving average is currently around 85,200 dollars. The technical indicators from 10x Research emphasized that Bitcoin has recovered at similar levels during past bull markets, and this could be a precursor to a new rise. Particularly based on historical data, such as dates in September 2023 and August 2024, he noted that the current recovery in the technical structure is within the realm of possibility.

90,000 dollar resistance

Bitcoin is currently trading at a level of $85,720 and has shown an increase of 2.1% in the last 24 hours. However, Thielen stated that Bitcoin could face significant resistance if it reaches the $90,000 level and that surpassing this level may not be easy. The analyst also pointed out another important aspect that a parabolic rise for Bitcoin is not immediately visible.

The crypto research analyst reiterated his view that Bitcoin will not fall below $73,000 and that major Bitcoin investors are maintaining their long-term investments, thus avoiding a deep bear market.

Thielen noted that with Bitcoin's recovery, some altcoins have also started to rise. He also mentioned that several altcoins have already begun to move away from their downtrends and are starting to reach more attractive levels, and that these may show further increases under Bitcoin's leadership.