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BTC/USD Retreats After Touching $42,000 Level

Bitcoin Price Prediction – March 19

The Bitcoin value prediction will increase throughout the European session, however regardless of the retreat, the market is nonetheless shifting sideways.

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

Key ranges:

Resistance Levels: $47,000, $49,000, $51,000

Support Levels: $37,000, $35,000, $33,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD retreats because the bears are seen forcing the king coin to bow down to recent losses. The first digital asset is shifting sideways above the 9-day and 21-day shifting averages. At the time of writing, BTC/USD is altering fingers at $41,883 after adjusting from the resistance stage of $42,184 which is an intraday excessive. Moreover, the Bitcoin value could also be weak to losses if the worth crosses under the shifting averages.

Bitcoin Price Prediction: Bitcoin (BTC) Bears May Resurface

Looking on the Bitcoin value from a technical angle, one can say that the market value could probably observe the downtrend or proceed to transfer sideways as a result of the bullish motion is but to be seen except the 9-day MA crosses above the 21-day MA. However, the technical indicator Relative Strength Index (14) could affirm the bearish motion if the sign line drops under 50-level.

However, bulls are at the moment banking on the shifting averages to make sure that regardless of a reversal, the Bitcoin value stays above this barrier. Any bearish motion under this might push the coin in the direction of the decrease boundary of the channel and should trigger the coin to attain the essential helps at $37,000, $35,000, and $33,000. Following the upward motion, if the coin crosses above the higher boundary of the channel, it could hit the potential resistance ranges at $47,000, $49,000, and $51,000 respectively.

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BTC/USD Medium – Term Trend: Ranging (4H Chart)

As the 4-hour chart reveals, the Bitcoin value is probably to cross under the 9-day and 21-day shifting averages whereas the bulls are making an attempt to defend the $41,500 assist. If not, the assist stage of$40,000 and under could come into play if the coin focuses on the downward motion.

BTCUSD – 4 Hour Chart

Moreover, consumers might have to regroup and maintain the assist of $41,800, as soon as this is performed, merchants could count on a transfer in the direction of the higher boundary of the channel, and breaking this barrier could push the king coin to the resistance ranges of $44,000, $46,000, and $48,000. Meanwhile, the technical indicator Relative Strength Index (14) is probably to drop under 60-level, suggesting a bearish motion.

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