PANews March 12 news, according to CoinDesk report, a technical analysis pattern that suggests a bullish reversal has appeared on the BTC daily chart, as market participants expect the US inflation data to be released on Wednesday to provide support for risk assets. Due to various factors, including Wall Street's risk aversion sentiment, concerns about Trump's tariffs, and fears of a US economic recession, BTC has recently suffered heavy losses, falling from $100,000 last month to below $80,000 this week. In addition, the lack of new BTC purchases under Trump's strategic reserve plan has also been disappointing, exacerbating the downward momentum.
However, when the price fell to a multi-month low below $80,000 on Tuesday, the Relative Strength Index (RSI) did not confirm this decline. The indicator formed a higher low, contradicting the lower low on the price chart, confirming the so-called bullish RSI divergence. This suggests that although the price is declining, the selling pressure is weakening, which may signal an impending bullish reversal. This pattern appears at a very interesting time, as the US February CPI to be released tonight is expected to show progress; the bullish BTC RSI divergence suggests that the market is ready to respond positively to potentially moderate data.
