Bitcoin Price Prediction: BTC/USD Claims $43,000 Resistance

BTCUSD 1D 21032022

Bitcoin Price Prediction – March 22

Bitcoin price forecast is shooting above $43,000 as the bulls get hot, it has done little at this stage to turn around the market sentiment.

BTC/USD Long-Term Trend: Ranging (Day Chart)

Key Levels:

Resistance Levels: $47,000, $49,000, $51,000

Support Levels: $38,000, $36,000, $34,000

BTCUSD – Daily Chart

BTC/USD is seen following a bullish move and is likely to start a fresh rise as long as the 9-day moving average remains above the 21-day moving average. At the start of today’s trading, Bitcoin price will see a steady rise above the $42,000 resistance level as the king coin hits the daily high of $43,389. In the next positive moves, BTC/USD is likely to settle above the upper limit of the channel.

Bitcoin Price Prediction: BTC Price May Rise Above the Channel

Bitcoin price is pulling back and trading above the 9 and 21 day moving averages as the market price aims to cross the upper limit of the channel. However, any further rise in the bullish move could push the price above the channel, and the potential resistance levels of $47,000, $49,000 and $51,000 could turn sharp.

On the contrary, if the $42,000 resistance level fails to hold, it could reverse and face the $40,000 support level, as a further increase in bear pressure could push the price down below the moving averages, and this could turn the king’s coin cause it to hit the supports at $38,000, $36,000 and $34,000. Meanwhile, the Relative Strength Index (14) technical indicator is moving to rise above the 60 level to amplify the bullish move.

BTC/USD Medium Term Trend: Bullish (4H Chart)

As revealed on the 4-hour chart, Bitcoin price is floating above the 9-day and 21-day moving averages at a price reading of $42,636. As it stands, the bulls could keep Bitcoin price above the moving averages, but any bearish cross below this barrier could push the coin towards the support level of $41,500 and below.

BTCUSD – 4 Hour Chart

Additionally, if Bitcoin price finds a decent resistance level at the $43,500 level, the first digital asset could continue its bullish move above the channel’s upper bound, which could likely reach the $44,000 resistance level and above. However, the Relative Strength Index (14) technical indicator is moving above the 60 level, pointing to additional bullish signals in the market.

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