Bitcoin Price Prediction: BTC/USD May Retrace Above $45,000



Bitcoin Price Prediction – March 26

The Bitcoin price rebounds from the early dip at $44,091 as the buying interest may increase on approach to $45,000.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $50,000, $52,000, $54,000

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

BTCUSD – Daily Chart

Buy Bitcoin Now

BTC/USD is ranging as the market may establish a cross above $45,000 but currently rebounding to retest previous resistance at $44,500. The buyers may continue to look for some resistance levels above the 9-day and 21-day moving averages on its way to the upper boundary of the channel and the path of least resistance appears to the upside in the near term amid a favorable bullish technical setup.

Bitcoin Price Prediction: BTC Price May Reclaim $45,000 Resistance

In the past few hours, after the Bitcoin price touches the daily low of $44,091, the king coin is now facing the resistance level of $44,500 and looking forward to reclaiming the resistance level of $45,000. However, the daily chart reveals that if the 9-day moving average remains above the 21-day moving average, this will continue to confirm the next direction that the coin will follow. In other words, BTC/USD may decline if the $44,000 support breaks down, but the price could rise if the $45,000 resistance is reached.

At the time of writing, the technical indicator Relative Strength Index (14) may stay above 60-level to indicate a bullish movement. Therefore, if the Bitcoin price stays above the 9-day and 21-day moving averages, it could hit the resistance levels of $50,000, $52,000, and $54,000 but any movement below the 9-day and 21-day moving averages could hit the supports at $40,000, $38,000, and $36,000.

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

According to the 4-hour chart, the Bitcoin price is seen sliding below the 9-day moving average as the technical indicator Relative Strength Index moves below 70-level. From above, if the Bitcoin price moves above the 9-day and 21-day moving averages, the bullish influence could spike and the accrued gains massively.

BTCUSD – 4 Hour Chart

However, the current candle could fail to move towards the upper boundary of the channel, and the critical support level remains at $42,500 and below, but the best the bulls can do is to hold above the resistance level of $45,000 and keep their attention on breaking the potential resistance at $46,000 and above.

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 *