Key Takeaways:
- Astrology-based Prediction: Bitcoin could continue to decline until March 13–14, aligning with the Lunar Eclipse.
- Technical Indicators: Patterns like “three dark crows” and a double-top suggest further downside.
- Market Fundamentals: ETF outflows and geopolitical risks add to bearish pressure.
Bitcoin Faces Ongoing Correction Amid Market Uncertainty
Bitcoin remains in a technical downturn, with its price briefly dipping into bear market territory this week. The cryptocurrency fell to $82,177 before recovering to $86,200, driven by strong Nvidia earnings. However, concerns remain as market analysts predict further declines in the coming weeks.
One crypto analyst, who remains anonymous, has introduced an unconventional perspective—astrology. According to him, Bitcoin and other altcoins could face extended losses until mid-March due to planetary movements. He claims that Bitcoin is currently experiencing a “Saturn conjunction,” which historically aligns with financial contractions and conservative market behavior.
Lunar Eclipse Could Mark a Turning Point
The analyst points to a crucial date: March 13 or 14, coinciding with the Lunar Eclipse. According to astrology, such celestial events are linked to emotional and subconscious shifts, which, he argues, could trigger a Bitcoin rebound.
While astrology may not be a conventional financial tool, fundamental and technical indicators also support the bearish outlook.
Market Factors Contributing to Bitcoin’s Decline
Several economic and technical reasons are driving the Bitcoin selloff:
- Spot Bitcoin ETF Outflows: Data from SoSoValue indicates that all spot Bitcoin ETFs have seen net outflows over the past seven days, suggesting weakening investor confidence.
- Geopolitical Uncertainty: Speculation about Donald Trump’s potential tariff policies could introduce more market volatility. Earlier this month, Bitcoin dropped after Trump proposed tariffs on Mexican and Canadian goods.
Technical Patterns Signal More Downside Risk
From a chart analysis standpoint, Bitcoin’s price action remains bearish:
- Three Dark Crows Pattern: A formation of three consecutive bearish candles, often a sign of an extended downtrend.
- Double Top Breakdown: Bitcoin has formed a double-top pattern with a neckline at $89,107. A breakdown from this level could push prices as low as $73,613—a decline of roughly 18%.
- Ichimoku Cloud Resistance: Bitcoin has moved below this key indicator, adding to bearish pressure.
Will Bitcoin Rebound After March 13?
While traditional technical and fundamental analysis suggests a continued decline, the astrology-based prediction hints at a potential turning point around the Lunar Eclipse. Whether or not celestial events influence Bitcoin’s price, all eyes will be on the market as mid-March approaches.
