BTC/USD price remains intact above USD 44,000

BTCUSD 1D 23032022 b

Bitcoin Price Prediction – March 25

The Bitcoin price forecast is trading slightly above $44,000 as the coin needs to rise above $45k to sustain the bullish move.

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

Key Levels:

Resistance Levels: $48,000, $50,000, $52,000

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

BTCUSD – Daily Chart

BTC/USD is likely to remain above USD 44,000 as the bulls may struggle to push the currency towards the upper limit of the channel. However, to keep Bitcoin price above this level, the bulls need to make the $45,000 support level strong.

Bitcoin Price Prediction: BTC/USD May Continue to Rising

Bitcoin price has yet to break above the channel as the king coin may settle in a tight margin between $44,000 and $46,000 above the 9- and 21-day moving averages. Moreover, in this current session Bitcoin and other major cryptos are being exchanged in a good tone. Meanwhile, Bitcoin price and daily candle are trading at $44,181. The following resistance levels could be at $48,000, $50,000 and $52,000.

However, if Bitcoin price did not follow the bullish move; Traders may see a drop in price towards the 9-day and 21-day moving averages near $42,000 vital support. Therefore, a further low bracket could send the price to $40,000, $38,000, and $36,000. For now, the Relative Strength Index (14) is moving above the 60 level, suggesting a bullish signal in the market.

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

Looking at the chart, BTC/USD is hovering above the 9 and 21 day moving averages. A successful close above this barrier is a must for a bullish acceleration. If not, there is a risk of a downside extension below the $43,500 support. If there is a downward move, the initial support is near the $43,000 level and the main support is near the $42,000 level, below which there is a risk of another decline towards the lower limit of the channel.

BTCUSD – 4 Hour Chart

However, if the bulls push the coin above the channel, the $45,000 level is likely to be a major hurdle for Bitcoin in the near term. So if there is an upward breach above this level, the next stop for the bulls could be near $46,000 and above. Rather, the Relative Strength Index (14) is below 70, indicating sideways movement.

Do you want to buy or trade Bitcoin (BTC) now? Invest with eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:

Leave a Reply

Your email address will not be published.