Bitcoin Price Prediction – March 24
There have been several variants with upward and downward movements in the BTC/USD market trades as the crypto economic price has a line of around $42,500. The US dollar has succumbed to a strength, allowing the crypto to trade between $43,487 and $42,648 value lines at a minute positive rate of 0.39.
Resistance Levels: $45,000, $47,500, $50,000
Support Levels: $40,000, $37,500, $35,000
BTC/USD – Daily Chart
The daily BTC/USD chart shows that the crypto economic price is around a trading level of USD 42,500. A light push against a psychological point marked for a force deceleration has created an upward moving process. The Stochastic Oscillators are in the overbought region and appear to be creating a consolidating style of movement inside. It kind of looks like some ups can steal features for a while.
Could there be sustained gains in BTC/USD market operations as the crypto economic price is around $42,500?
It may not be easy to reach sustainable gains past the higher $45,000 resistance level as the BTC/USD market price briefly remains above $42,500. Buyers may need to push continuously based on the support that the March 22 bullish candlestick forms just over $40,000. However, the forces on the north side show a weaker sign of being further below the aforementioned higher point.
The flip side of the technical analysis is that the BTC/USD market sellers currently have the potential to land a decent sell in around $42,500, provided the higher $45,000 resistance level is not fearfully breached for a sustainable position. The price has to meet some of the upside forces left to exhaust the bulls’ movement around those value lines.
BTC/USD 4-hour chart
The medium term BTC/USD chart shows that the crypto economic price is around a trading level of USD 42,500. The market seems tempting to push higher along the value line to hit higher resistance points below the $45,000 resistance level. The 14-day SMA indicator has crossed slightly northward against the 50-day SMA indicator. The stochastic oscillators have dropped to between 80 and 40. And they are trying to point south just above the smaller range line to show that a bearish force may soon return to the crypto economy.
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