Bitcoin (BTC/USD) Price Holds Around $42,500



Bitcoin Price Prediction – March 24
There have been several featuring variant movements upward and downward in the BTC/USD market operations as the crypto-economic price holds around $42,500 line. The US Dollar has succumbed to a force, letting the crypto trade between $43,487 and $42,648 value-lines at a minute positive percentage of 0.39.

BTC/USD Market
Key Levels:
Resistance levels: $45,000, $47,500, $50,000
Support levels: $40,000, $37,500, $35,000
BTC/USD – Daily Chart
The BTC/USD daily chart shows the crypto-economic price holds around a $42,500 trading level. A slight push against a psychological point marked up for a force retardation upward-moving process has made. The Stochastic Oscillators are in the overbought region, seemingly trying to stage a consolidation moving style within. It appears somewhat that some ups can steal features for a while.

Buy Bitcoin Now

Can there be sustainable ups in the BTC/USD market operations as the crypto-economic price holds around $42,500 level?

It may not be easy to achieve sustainable ups past the higher resistance level at $45,000 as the BTC/USD market price holds briefly above the $42,500. Buyers may have to continually push based on the support that March 22nd bullish candlestick form a bit over the $40,000. However, the forces to the north side have been showing a weaker sign of moving more beneath the higher point mentioned earlier.

On the downside of the technical analysis, the BTC/USD market sellers currently have the potentiality of getting decent sell entry around the $42,500 provided that the higher resistance level-point at $45,000 isn’t breached out fearfully for a sustainable position. Price has to satisfy some of the upward forces left-over for bulls’ motion to exhaust around those value-lines.

BTC/USD 4-hour Chart

The BTC/USD medium-term chart shows the crypto-economic price holds around a $42,500 trading level. The market appears tempting to push higher past the value-line to touch higher resistance points beneath the $45,000 resistance level. The 14-day SMA indicator has slightly crossed northward against the 50-day SMA indicator. The Stochastic Oscillators have moved down into the ranges of 80 and 40. And they are trying to point southbound closely above the smaller range-line to showcase that a falling force may return soon in the crypto economy.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

Buy Bitcoin Now

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

 

Read more:                                                                           

  • How to buy Bitcoin
  • How to buy cryptocurrency

Go to Source

Leave a Reply

Your email address will not be published. Required fields are marked *