After a disappointing start to 2025, Bitcoin has demonstrated a strong recovery, rising past the $97,000 mark following news of renewed trade talks between the US and China.
Bitcoin’s Recovery After Early 2025
Bitcoin has resumed its upward trajectory, crossing above $97,000 attributed to news of renewed US-China tariff talks. Ahead of a critical Federal Reserve decision, market analyst Omkar Godbole noted that Bitcoin’s chart indicates positive trends.
MACD Indicator Analysis
Analyzing the popular MACD indicator used for identifying trend reversals, the analyst pointed to a potential bullish reversal. He noted that Bitcoin's price initially fell after the MACD turned negative in mid-February but found support at the 50-week SMA in March and has since bounced back above $90,000. According to the analyst, this situation is reminiscent of the dynamics seen last August and September, when the MACD also shifted to an upward trend.
50 and 200 Day Averages
Additionally, examining the 50 and 200-day SMAs, the analyst mentioned that the ‘death cross’ formation about four weeks ago indicated a bearish trend, but this turned out to be a bear trap. Bitcoin found support around $75,000 and changed direction. The analyst noted that the 50-day SMA has recently begun to rise and may soon surpass the 200-day SMA, suggesting the formation of a golden cross indicative of an upward trend in the coming weeks.
While history does not guarantee future results, the current indicators on the Bitcoin chart suggest a possible bullish trend, with analysts predicting Bitcoin could reach new all-time highs in the coming months.
