BTC/USD Consolidating Below USD 45,000 Level

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Bitcoin Price Forecast – March 26

Bitcoin price is showing weakness at $42,500, but this crucial technical formation could bring it above the $45,000 resistance.

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

Key Levels:

Resistance Levels: $49,000, $51,000, $53,000

Support Levels: $40,000, $38,000, $36,000

BTCUSD – Daily Chart

In recent days, BTC/USD has remained below USD 44,000. On the other hand, the massive support between $43,000 and $41,000 has prevented the bearish leg from extending further as Bitcoin price was pivotal at $44,000, preventing it from making progress above this critical level. Meanwhile, Bitcoin (BTC) is working on a recovery mission with a support level of $43,000.

Bitcoin Price Prediction: Where Would Bitcoin Go?

Bitcoin price is moving above the crucial level of $44,000, which can now act as a support zone in the event of a reversal. Meanwhile, on the upside, as the coin moves north, there is little in place to prevent a correction targeting the key $45,000 resistance as the technical indicator Relative Strength Index (14) rises above the 60-year mark. level comes.

However, as the daily chart reveals, BTC/USD is counting on the $44,000 and $46,000 support to ensure Bitcoin price remains above the $42,000 level despite a reversal. Additionally, if the coin continues to trade above the 9- and 21-day moving averages, crossing the upper limit of the channel could likely push it towards the resistance levels at $49,000, $51,000 and $53,000 while it could move below the lower limit of the channel. find the props at $40,000, $38,000, and $36,000, respectively.

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

The 4-hour chart shows that the price is likely to move down if the Relative Strength Index (14) moves below the 60 level. Although, the bears are trying to get back on the market; it’s high time for the bulls to defend the $44,000 support and push the price north.

BTCUSD 4 Hour Chart

Meanwhile, the support level of $42,000 and below may come into play if the price moves below the lower limit of the channel. But as far as the red line of 9-day MA stays above the green line of 21-day MA; the market may continue to follow the uptrend, and if the technical indicator RSI (14) moves above the 70 level, it could reach the resistance level of $46,500 and above.

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