Bitcoin price bounces 4% as data gives ‘89% chance’ stocks bottom is in

Bitcoin (BTC) rebounded above $ 81,000 on March 11, while the ultimate contracts of American shares requested a recovery of a brutal sale.

The BTC price rebounds in the middle of the calls for a short pressure

Cointelegraph Markets Pro and TradingView data have shown that daily BTC price gains were 4%.

New four months had accompanied the Wall Street negotiation session of the day before, while recession fears sent fleeting-active investors.

The composite S&P 500 and Nasdaq index ended the day down 2.7% and 4%, respectively. At the time of writing this document, the Nasdaq 100 term contracts had recovered approximately 0.4% of a trip to their lowest levels since September 2024.

Commenting, Trading Resource Kobeissi’s letter suggested that the markets had entered an unsustainable downward trend.

“Are we late for short massive pressure?” He questioned in a thread on X, noting the feeling of risk-active in territory of “extreme fear”.

“Even bears that call for an extended bear market should see rescue rallies. The markets do not move in the long term in the long term. Finally, short pressure (negotiable) is inevitable. »»

Kobeissi and others have referred to unusually high readings of the VIX volatility index while asserting a sustained recovery.

“$ VIX was only 11% of the time, dating back to 1990,” continued the economist of the Timothy Peterson network, creator of several Bitcoin price forecasting tools.

“In other words, there are 89% chance that today is the bottom.”

Bitcoin analysis sees “very difficult”

Bitcoin therefore saw a much necessary advantage over short deadlines after reaching $ 76,600 on Bitstamp.

In relation: Larger candle every red week of all time: 5 things to know in Bitcoin this week

“$ BTC has just had a bullish divergence over the time 4 hours,” reacted the popular merchant Case Abbe during the analysis of the signals of the relative force index (RSI).

“I’m not saying it’s reversal, but a short -term pump seems imminent now.”

Previously, Trader and Analyst Rekt Capital told X subscribers to monitor similar RSI indices of the daily graphic to confirm a more sustainable BTC price return.

The rear zoom, other popular participants in the cryptography market remained dark. Among them was the pseudonym x trader htl-nl, which concluded that BTC / USD did not correspond to peaks of all time.

“Before anyone from you think it happens specifically in Crypto: this is not the case,” said another of his latest messages alongside a graphic of S&P 500 Futures.

“It happens to all risks on assets. This is probably called a recession. The United States is in a very difficult period. »»

This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.