Bitcoin Price Prediction – March 18
The Bitcoin value prediction reveals that BTC shoots above $41,500 stage to commerce above the higher boundary of the channel.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $47,000, $49,000, $51,000
Support Levels: $36,000, $34,000, $32,000
BTC/USD is shifting sideways, and it is possible to begin a brand new enhance if the 9-day shifting common crosses above the 21-day shifting common. At the start of as we speak’s buying and selling, the Bitcoin value touches the low of $40,130 earlier than following a gentle enhance in direction of the $42,000 resistance stage because the king coin touches the every day excessive of $41,683. At the time of writing, BTC/USD is possible to settle above the higher boundary of the channel within the subsequent constructive route.
Bitcoin Price Prediction: BTC Price May Cross Above the Channel
The Bitcoin value is seen retracing and buying and selling above the 9-day and 21-day shifting averages whereas the market value prepares to cross above the higher boundary of the channel. However, any additional enhance within the bullish motion might enhance the value above the channel. Meanwhile, one other resistance might come at $44,000 earlier than reaching the potential resistance of $47,000, $49,000, and $51,000 ranges.
However, if the resistance stage of $42,000 fails to maintain, it might reverse and face the assist stage of $40,000 as an extra enhance within the bears’ strain might convey down the value beneath the 9-day and 21-day shifting averages, and this might trigger the king coin to hit the helps at $36,000, $34,000, and $32,000. In the meantime, the technical indicator Relative Strength Index (14) stays above 50-level to enhance the bullish motion.
BTC/USD Medium – Term Trend: Ranging (4H Chart)
As revealed on the 4-hour chart, the Bitcoin value is hovering above the 9-day and 21-day shifting averages at a value worth of $41,528. However, with the look of issues, the bulls might preserve pushing the Bitcoin value above the shifting averages however any bearish cross beneath this barrier might convey the coin in direction of the assist stage of $39,000 and beneath.
Moreover, if the Bitcoin value finds an honest resistance stage at $42,000 stage, the primary digital asset might proceed the bullish motion in direction of the higher boundary of the channel which can possible hit the resistance stage of $44,000 and above. However, the technical indicator Relative Strength Index (14) strikes to cross into the overbought area, suggesting extra bullish alerts into the market.
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