Weekend Trading Analysis: A Detailed Breakdown of Market Momentum BTC 22nd & 23rd March 2025
Following on from Friday’s analysis, Saturday’s price action remained within the same range, with Bitcoin oscillating between $84.3K as resistance and $83.7K as support. This consolidation phase carried on until early Sunday morning when a significant technical event occurred—a golden cross formed between the 50 EMA and the 200 EMA. This bullish crossover signaled potential upward momentum, which was soon realized as price finally broke above the $84.3K resistance level, where it had been trapped since Friday.
The breakout was supported by strong volume, indicating substantial buying pressure at this key level. The higher highs and higher lows that followed further reinforced the bullish sentiment. Moreover, the weekend’s volume surge added credibility to the move, making it a significant departure from the prior range-bound trading. However, price is now facing resistance at a crucial confluence zone around $87.3K, which aligns with the daily bearish trendline.
As we move into Monday’s open, caution is warranted. Large players may see the high weekend volume as a prime opportunity for exit liquidity or profit-taking from Friday’s positions. Sentiment-wise, the market appears to be shaking off the bearish concerns linked to recent tariff news, and confidence among investors is returning. Whether this sentiment shift is sustainable remains to be seen.
30-Minute Analysis
On the lower timeframes, Bitcoin has demonstrated strong momentum, particularly after breaking through the $84.3K resistance. The golden cross on the 30-minute chart between the 50 EMA and 200 EMA provided additional bullish confirmation. The breakout was accompanied by a surge in volume, showing genuine interest from buyers. However, as price approaches $87.3K, there are early signs of exhaustion. A rejection at this level could see a retracement back toward $85K or even a retest of the previous resistance-turned-support at $84.3K. Any dip-buying opportunities should be carefully evaluated within this range.
Daily Analysis
From a broader perspective, Bitcoin’s daily structure presents an interesting setup. A retest play could be in the works, as price is attempting to break out of a key area of interest once again. For further confirmation of bullish momentum, a daily close above the 200 EMA, along with a breakout of the descending trendline, would be required. This would mark a shift in sentiment and open the doors for a larger upside move.
That being said, a true market structure shift would require BTC to break above the last lower high at $94.9K. Until then, bearish sentiment still holds weight unless the outlined criteria for a bullish shift are met. The most concerning aspect right now is the volume divergence—while price has been climbing, volume has been declining significantly. This indicates a lack of confidence in the move, which could lead to a sharp correction if buyers fail to sustain momentum.
Summary
Bitcoin’s weekend price action has been characterized by a breakout from a well-established range, supported by strong volume. The golden cross on the 30-minute chart, alongside increasing weekend volume, validates the recent bullish move. However, significant resistance at $87.3K and the daily bearish trendline pose challenges.
Monday’s session will be pivotal in determining the direction for the coming week. If BTC can close above the 200 EMA and the descending trendline, the bullish case strengthens. However, the declining volume on the daily timeframe raises concerns about the sustainability of this move. If large players use this as an exit opportunity, a retracement could be on the horizon. For now, the focus remains on how BTC reacts at these key levels, with a cautious approach favored until clearer confirmations emerge.
