Bitcoin preps fresh trend line showdown as weekly close sparks $60K target

4 days ago

Bitcoin (BTC) threatened to cement caller absorption into Sunday’s play adjacent arsenic traders focused connected lipid and gold.

Key points:

Bitcoin risks reinforcing its 200-week exponential moving mean arsenic caller absorption this week.
Price remains incapable to flip the cardinal inclination enactment backmost to enactment arsenic breakouts fail.
Oil and golden are seen arsenic the main BTC terms volatility catalysts.

BTC terms 200-week inclination enactment successful the spotlight

Data from TradingView showed multiday lows of $66,569 for BTC/USD implicit the weekend.

This placed the brace beneath its cardinal 200-day exponential moving mean (EMA) inclination line, 1 that it had repeatedly tried and failed to reclaim arsenic support.

Commenting, trader and expert Rekt Capital highlighted the value of losing that 200-week EMA, presently astatine $68,310, during the play close.

“Indeed Bitcoin has erstwhile again upside wicked beyond the 200 EMA, with terms cancelling retired the immense magnitude of the caller rebound,” helium wrote successful an X post connected Friday.

Rekt Capital added that a play candle adjacent beneath “would proceed to solidify the EMA arsenic resistance.”

Prior to February, BTC/USD past saw a adjacent beneath the inclination enactment connected play clip frames successful aboriginal March 2023.

On a much optimistic note, trader Merlijn argued that terms could repetition its 2023 structure, which yet sparked large upside aft the 200-week EMA reclaim.

BITCOIN IS TESTING THE LEVEL THAT STARTED THE LAST RALLY.

In 2023 the 200 EMA acted arsenic the launchpad for the full move.

Price reclaimed it.
Retested it.
Then exploded higher.$BTC is present backmost astatine the aforesaid operation adjacent $65K.

Hold it and continuation follows.
Lose it… and… pic.twitter.com/DIMAWzxGss

— Merlijn The Trader (@MerlijnTrader) March 8, 2026

All astir lipid and gold, says Bitcoin trader

With macro tensions successful the aerial acknowledgment to the ongoing Middle East conflict, attraction was already connected commodities and harmless havens up of the TradFi trading week.

Crypto trader, expert and entrepreneur Michaël van de Poppe tied golden and lipid show straight to Bitcoin’s chances of a rebound.

“All eyes connected Oil tomorrow, and Gold & Silver. If those are moving successful favour of Bitcoin, we mightiness spot a instrumentality to the highs successful the coming week and the worst is down us,” helium told X followers connected the day.

“If that's not the case, I'd beryllium a large purchaser successful the $60K areas if we trial the lows again.”

WTI crude lipid ended Friday up astir 16% connected the day, portion golden coiled beneath the $5,200 people aft a failed rematch with all-time highs.

Flagging grounds debased comparative spot scale (RSI) readings, Van de Poppe said that Bitcoin was intelligibly undervalued versus the precious metal.

“The valuation of $BTC vs. Gold isn't changed,” helium wrote connected X.

“It's inactive the lowest RSI successful past of that peculiar metric, which is still: - Gold is overvalued successful the abbreviated term. - Bitcoin is undervalued successful the abbreviated term.”

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