Bitcoin Price Prediction: BTC/USD Reclaims Long-Awaited $45,000 Level
Bitcoin Price Prediction – March 25
After a sudden and bullish price spike, the Bitcoin price prediction moves to cross the long-awaited $45,000 resistance.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Key levels:
Resistance Levels: $48,000, $50,000, $52,000
Support Levels: $41,000, $39,000, $37,000
BTC/USD has once again given more than $500 pullback surging past $45,000 resistance and looking forward to breaking past its crucial resistance of $46. At the time of writing, BTC is trading 1.17% up at $44,528 with a market cap of over $844 trillion.
Bitcoin Price Prediction: Next Direction for Bitcoin (BTC)
During the European session today, the Bitcoin price hovers above the crucial resistance level of $45,000. Meanwhile, on the upside, as the coin moves above both the 9-day and 21-day moving averages, little is in place to prevent correction targeting the key resistance of $46,000 as the technical indicator Relative Strength Index (14) moves above 60-level to confirm the uptrend.
However, BTC/USD is currently supported by the former resistance level of $43,000, but if the price falls below this level and moves to cross the 21-day moving average, the Bitcoin price could find support at $41,000, $39,000, and $37,000. Oppositely, the continuation of the bullish movement towards the upper boundary of the channel could pave the way for gains above $46,000 before reaching the resistance levels of $48,000, $50,000, and $52,000.
BTC/USD Medium – Term Trend: Bullish (4H Chart)
Looking at the 4-hour chart, BTC/USD is currently trading around $44,449 after a reversal from the $44,664 level. However, traders can see that the bullish supply is becoming heavy in the market while the bears are trying to bring the price down. Meanwhile, if the buyers could further strengthen the market, the Bitcoin price may cross above the upper boundary of the channel.
Moreover, the technical indicator Relative Strength Index (14) moves around 70-level; therefore, breaking into the overbought region could allow the bulls to hit the potential resistance at $46,000 and above. On the contrary, if the market price turns down; the bears may take the opportunity to bring the price to the support level of $43,000 and below.
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