Watch these Bitcoin price levels as BTC retests key $84K resistance
Bitcoin (BTC) approached the $83,000 mark during the Wall Street open on March 14, as traders gauged the market conditions necessary for a bullish turnaround. Amidst this environment, BTC/USD registered a daily gain of up to 5% before entering a consolidative phase, reflecting traders’ cautious outlook amidst broader macroeconomic uncertainties.
### BTC Price RSI and Bullish Divergence
Analysis from Cointelegraph Markets Pro and TradingView reveals a notable development in Bitcoin’s trading patterns. Prominent trader and analyst Rekt Capital has indicated increasing potential for a bullish divergence on the relative strength index (RSI). This technical pattern suggests that the RSI may start forming higher lows while the price could create lower lows, a signal of diminishing seller pressure.
In a recent post, Rekt emphasized the importance of reclaiming previous lows around $84,000, suggesting this could solidify the bullish divergence and set the stage for further upward momentum. Each rejection from the current resistance level appears to be weakening, which may present a critical opportunity for Bitcoin to close above this threshold and establish a positive trajectory.
### Market Moving Averages
Keith Alan, co-founder of Material Indicators, is closely monitoring Bitcoin’s interaction with key moving averages. The 21-day and 200-day simple moving averages (SMAs) currently sit at $83,740 and $86,800, respectively. Alan posits that Bitcoin must achieve a sustained close above the 200-day SMA to confirm a bullish trend, closely followed by a reclaim at the 21-day level.
He also highlighted a developing shift in bullish momentum through proprietary indicators, indicating an initial step towards reversing downward trends, which may facilitate sustained upward movement in prices.
### Amid Gold’s Surge
In contrast to Bitcoin’s fluctuating fortunes, gold experienced a remarkable rally, achieving record highs exceeding $3,000 per ounce. This surge is driven by investors seeking refuge amidst turbulent macroeconomic conditions, underscoring gold’s position as a safe haven asset.
Moreover, the S&P 500 index registered gains following a recent downturn, marking the beginning of technical recovery after a significant correction. Despite the positive developments in gold and equities, Bitcoin’s relative performance has notably lagged, breaking key trendlines against gold in 2025, which raises questions about its current market resilience.
As the situation develops, traders remain vigilant, analyzing technical indicators and market trends to gauge the future of Bitcoin amidst the shifting dynamics of risk assets.
