Compartir este artículo
Bitcoin Bounces Back Above $47K Despite Bearish Chart Pattern
A bearish engulfing candle is just one signal among many market indicators and some analysts say the bull market is intact.
Make us preferred on Google
Bitcoin regained some lost ground early on Monday, so far ignoring early indications of a bearish reversal on the weekly chart.
STORY CONTINUES BELOW
No te pierdas otra historia.Suscríbete al boletín de Crypto Daybook Americas hoy. Ver todos los boletines
The cryptocurrency climbed a high of $47, 162 during the European morning, having dropped to $43,119 on Sunday – its lowest point since Feb. 8. Bitcoin is up 5% over 24 hours near $47,230 at press time.
The rise comes despite signs of bearish trend reversal on a longer-duration technical chart. The cryptocurrency fell 21% in the seven days to Feb. 28, despite multiple favorable market news events, forming a bearish engulfing pattern on the weekly chart.
The candlestick pattern indicates a reversal to bearish conditions, as sellers succeeded in pushing prices below the previous week's "opening" price (on Monday at 00:00 UTC) .
A similar bearish engulfing pattern marked an end of the previous bull market in December 2017. The cryptocurrency then entered a 12-month long bear market which bottomed following an 83% drop to lows near $3,100.
While it's too early to call an end of the bull market, the bearish engulfing pattern may bring some chart-driven selling.
Blockchain data also shows signs of cooling down in demand. The total number of bitcoin addresses with less than 0.01 BTC has also fallen slightly, according to data from Glassnode, indicating retail investment has begun to ease. The same can be said for wallet addresses containing 1 BTC all the way up to 1,000 BTC, where interest among institutional buyers appears to be capped.
See also: Crypto Long & Short: How Coinbase Going Public Is Reshaping Trust in Markets
That said, the engulfing candle pattern is just one signal amongst many market indicators and historical data shows the cryptocurrency saw multiple corrections of 30%–39% during the 2017 bull market.
"BTC has found temporary footing," Jehan Chu, managing partner at cryptocurrency investment firm Kenetic Capital, told CoinDesk via WhatsApp. "Institutions and long-term investors are forming a solid backdrop and speculators smell a buying opportunity."
Traders should expect continuing volatility, he added, as buyers "prove out a floor" above the $40,000 mark before a return to $50,000 as buying resumes.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
