In the wake of a strong rally on March 24, Bitcoin futures are experiencing a mild cooling effect today, with a -1.5% pullback. Yesterday, the Bitcoin market recorded a whopping +4.38% intraday surge, closing the session at +3.31%. Currently, Bitcoin futures are trading around the $87,065 mark.
This pause in momentum is a common market phenomenon, with the day’s price action lingering slightly below key volume-weighted levels.
Crucial VWAP Levels to Monitor
- Today’s VWAP: $87,400
- Yesterday’s VWAP: $87,640
Scenario Favoring Bulls (Only if price crosses $87,800)
A bullish tilt will only be confirmed if Bitcoin futures surpass and sustain above $87,800. This could signify market strength and potentially pave the way to the subsequent upside targets:
- $88,385 – Slightly below the Point of Control (POC) from March 24
- $88,625 – Near the March 7 POC
- $89,340 – Underneath the Value Area High (VAH) from March 7
- $90,790 – A far-off target, just below the March 3 VWAP
These targets provide a safe exit for bullish traders, reducing risk as the price ascends.
Scenario Favoring Bears (Only if price breaks below $86,645)
Should Bitcoin futures dip below $86,645, a bearish trend is likely. This level is situated beneath a significant support zone (March 7 VA Low). If breached, it could lead to:
- $86,170 – Above the March 19 VAH
- $85,660 – Above the March 14 VAH
- $85,270 – Above the March 20 VWAP
- $84,020 – Above the March 21 POC
- $82,210 – Near the March 18 POC and March 13 VWAP convergence
These zones can help bearish traders secure profits or guide stop placement.
Presently, the market is in a state of suspense between $86,645 and $87,800. Until one side gains the upper hand, the price may consolidate or fluctuate. This necessitates patience for confirmation at these critical thresholds before choosing a direction. The market structure brings us to the pivotal question: 
Is the rally from March 11 on track to hit $90K? 
Or are we heading for a pullback toward deeper support?
For Bitcoin investors, consider this analysis as a tool to guide your decisions. Pay close attention to price reactions at the bullish and bearish triggers—it provides insights into momentum shifts. With both bullish and bearish scenarios presented by tradeCompass, be prepared for any eventuality.
Set partial profit targets, refrain from impulsive decisions, and always remember: The true narrative is disclosed through price action at key levels. Visit ForexLive.com for more perspectives.
