Bitcoin (BTCUSD) Price Forecast: March 25
Bitcoin price may likely swing up to the $73573.03 supply value soon as it faces an increase in buying pressure to stabilize the crypto market. The coin will most likely continue its bullish correction and the price could go higher and hit the mentioned supply level, if the price can break up the mentioned resistance level, a $76000.00 upper resistance level might be the target.
Key Levels:
Resistance Levels: $63000 $64000, $65000
Support Levels: $40000, $39000, $38000
BTC (USD) Long-term Trend: Bullish (Daily Chart)
Bitcoin price is bullish and about to swing up to the upper resistance level on the higher time frame. The price bar can be seen above the moving averages, this is due to the high impact from buyers.
The high order flow from the bulls to the $64053.59 supply level during yesterday’s session also added to this bullishness. However, the bulls are now set to further swing up the coin price to the upper resistance zone.
The current price of BTCUSD at the $65357.64 high level above the EMA-50 as the daily session opens today indicates an uptrend in the context of the strength of the market. This gives room for the bulls to further swing up the price to a higher level at the upside.
Further, an increase in the buying pressure might lead the price of Bitcoin to retest the previous high of $73573.03 high mark, obtaining a higher footing to rise higher.
Adding to this, there is a tendency for the coin to rise further, if the support level holds, this will enable buyers to take the crypto price up to a high of $73573.03 soon in its long-term perspective.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
The BTCUSD pair may likely swing up above the resistance trend line to show that the bulls are ready to move any moment from now in its medium-term perspective.
The price bars can be seen below the moving averages near the resistance level. This is due to the high inflow from the sell traders. However, there is about to be a turnaround for the largest crypto-buy traders.
The coin price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days.
The market price of Bitcoin which swings up to a $65357.64 high level below the moving averages as the 4-hourly session opens today suggests the return of the bulls to the market and an improved bullish market sentiment. Thus, closing the 4-hourly session above the $73329.28 previous highest value will put the trade more on the buy side.
Additionally, the price of BTCUSD might continue to swing up as indicated by the daily signal which remains in an uptrend. This will compel the bulls to swing up the coin price to the $7373.03 upper level and beyond in the days ahead in its medium-term time frame.
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