Bitcoin price prediction: Struggles at 100-day EMA amid extreme fear
BTC holds $91,500 support amid market uncertainty
Bitcoin price has continued its recovery for a third consecutive day, rising 2% during the Asian session to briefly touch the 100-day EMA at $92,850 in the European session.
This move follows a breakout above the $91,500 resistance level, indicating renewed bullish interest. However, investor sentiment remains weak, with the Crypto Fear & Greed Index at 25, still in the “Extreme Fear” zone. As a result, bitcoin price has taken a breather to retest the $91,500 resistance turned support level.
Bitcoin’s latest price advance comes after days of rapid volatility, with the market attempting to stabilize. The broader uncertainty stems from upcoming regulatory discussions at the White House Crypto Summit on March 7. Market participants appear to be positioning ahead of potential policy shifts, contributing to Bitcoin’s short-term price movements.
Bitcoin RSI remains neutral amid as traders await White House crypto summit
Bitcoin price dynamics (Jan 2025 - March 2025). Source: TradingView.
Despite the price increase, Bitcoin’s Relative Strength Index (RSI) remains neutral, suggesting that buying momentum is not yet strong enough to confirm a sustained uptrend. The market’s hesitation is also evident in sentiment indicators. The Crypto Fear & Greed Index has barely moved, rising just 5 points despite Bitcoin’s price recovery. This suggests that traders remain uncertain, likely waiting for more clarity from the White House Crypto Summit.
While some traders anticipate further upside, others remain skeptical. The lack of a strong shift in sentiment, combined with Bitcoin’s failure to push RSI into bullish territory, signals caution. If Bitcoin fails to rebound on the potential support level of $91,500, price could break downward, reducing the possibility of a third consecutive bullish day. However, a breakout above the 100 day EMA could open the door to further gains. Fundamentally, all eyes are on the White House Crypto Summit, as regulatory developments could be the next major catalyst shaping Bitcoin’s trajectory.
Heavy liquidations followed Bitcoin’s drop below $84,400, wiping out over $1 billion in positions. The price rebounded to $87,500 but now faces resistance at $89,400.
