BTC Price Remains Stable as Bitcoin Stays Above $45K – March 31, 2022
Today, the price of BTC has risen from the low of $44,234 to a $46,740 high as Bitcoin has more than $45K. BTC price is facing rejection in the $47,000 resistance zone. BTC price has corrected upwards but is stuck between the moving averages. BTC/USD is trading above the 50-day line but below the 21-day moving average.
Resistance Levels: $70,000, $75,000, $80,000
Support Levels: $50,000, $45,000, $40,000
BTC/USD – Daily Chart
Today, BTC price corrected upwards towards the high of $46,740 but was countered. The bears are pushing the coin towards the $45,400 breakout level. On the upside, if the price bounces above the USD 45,400 support, the market will rise towards the USD 48,000 resistance level. The bulls will try to break the $48,000 resistance level. A breach above the $48,000 resistance level will catapult Bitcoin above the $50,000 psychological price level. Nevertheless, if the price of BTC falls to recover but remains above the $45,400 support, Bitcoin will be forced into a range-bound move between $45,400 and $48,000 price levels.
Kraken Users Report Bitcoin Lightning Network Availability
Kraken has officially announced plans to integrate the Bitcoin Lightning Network by the end of 2020. The exchange will schedule its implementation for 2021, which has led some crypto observers to believe that Kraken is taking a long time to integrate Lightning, as some US Congressional candidates have managed to adopt it for. Kraken’s Bitcoin product manager Pierre Rochard has explained that the exchange has successfully implemented the Lightning Network, giving its customers instant settlement of BTC transactions. He said: “Bitcoin has proven to be an effective store of value over the past decade and is now seeing increasing use as a borderless global currency. […] Withdrawing to a Lightning mobile wallet is a seamless process and speeds up the adoption of BTC as a medium of exchange.
BTC/USD – 4 Hour Chart
Meanwhile, BTC price has corrected upwards as Bitcoin remains above USD 45K. The price of the crypto is limited between the moving averages. The cryptocurrency will likely be in a range-bound move for a few more days.
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