Derivatives Data Shows Bullish Signal
Bitcoin derivatives data is flashing a strong bullish signal, according to analyst Darkfost. The Net Taker Volume has remained consistently positive at $145 million since March 7, extending for nearly two months. This metric subtracts sell volume from buy volume across derivatives order books, effectively capturing directional pressure and trader sentiment.
Darkfost noted that previous transitions from heavy selling to strong buying led to upward price reactions. The current cycle mirrors that pattern since early March, and sustained buy dominance could drive the price toward the $80,000 psychological level.
Bitcoin Price Structure Gradually Recovers
On the price action front, Bitcoin is recovering after a deep correction. BTC declined from above $110,000, forming lower highs and lower lows. The downtrend intensified after the 50-day moving average (MA50) crossed below the 200-day moving average (MA200) in November last year.
However, price stabilized between $85,000 and $95,000 in December, with both moving averages flattening to signal a temporary balance. Early January saw a failed recovery near $96,000, and selling pressure intensified later that month, pushing BTC to a low of $62,000–$65,000 with a sharp volume spike indicative of forced liquidations.
Key Resistance and Support Levels
Since February, BTC entered an accumulation phase, forming a base between $65,000 and $72,000 with gradually rising lows. By late March and April, price recovered toward $78,000, moving above the MA50 near $76,800. However, it still trades below the MA200 around $81,700.
Current support lies at $65,000–$68,000, while resistance is at $80,000–$82,000, aligning with the MA200 zone. A break above $82,000 would confirm stronger upward momentum, while failure above the MA50 could lead to a pullback toward $70,000.
Overall, both derivatives data and price structure suggest bullish forces are building, with growing expectations for a test of the $80,000 mark. However, traders should remain cautious of selling pressure near the 200-MA and monitor volume and open interest changes in the days ahead.