### **Bitcoin (BTC/USD) Price Action Analysis – March 20, 2025**
#### **Chart Overview:**
- This chart represents the **15-minute timeframe** for **Bitcoin (BTC/USD)** on the **Bitstamp exchange**.
- The background is orange, with key price levels marked by **purple and blue horizontal zones**.
#### **Key Observations:**
1. **Resistance Zone (~86,500 - 87,000):**
- Marked by a **purple box**, this area acted as a **strong supply zone**, causing price rejection.
- Price tested this zone and failed to break above, leading to a bearish move.
2. **Support Zone (~83,500 - 83,800):**
- Another **purple box** marks a **demand zone**, where price is currently testing.
- If this support holds, we might see a **bullish rebound**.
3. **Mid-Level (~85,143):**
- A **blue horizontal line** represents an intermediate support/resistance level.
- It previously acted as a consolidation area before the drop.
4. **Current Market Behavior:**
- The price is in a **downtrend**, with a recent **strong sell-off**.
- The green and red shaded area suggests a **potential retracement zone** for a pullback before further movement.
- If support holds, a bounce towards **85,143 or higher** is possible.
- If support breaks, price may drop **below 83,500**, extending the bearish trend.
### **Conclusion:**
- **Bullish Case:** Price rebounds from the support zone and heads back towards **85,143+**.
- **Bearish Case:** If Bitcoin fails to hold above **83,500**, further downside is likely.
#### **Chart Overview:**
- This chart represents the **15-minute timeframe** for **Bitcoin (BTC/USD)** on the **Bitstamp exchange**.
- The background is orange, with key price levels marked by **purple and blue horizontal zones**.
#### **Key Observations:**
1. **Resistance Zone (~86,500 - 87,000):**
- Marked by a **purple box**, this area acted as a **strong supply zone**, causing price rejection.
- Price tested this zone and failed to break above, leading to a bearish move.
2. **Support Zone (~83,500 - 83,800):**
- Another **purple box** marks a **demand zone**, where price is currently testing.
- If this support holds, we might see a **bullish rebound**.
3. **Mid-Level (~85,143):**
- A **blue horizontal line** represents an intermediate support/resistance level.
- It previously acted as a consolidation area before the drop.
4. **Current Market Behavior:**
- The price is in a **downtrend**, with a recent **strong sell-off**.
- The green and red shaded area suggests a **potential retracement zone** for a pullback before further movement.
- If support holds, a bounce towards **85,143 or higher** is possible.
- If support breaks, price may drop **below 83,500**, extending the bearish trend.
### **Conclusion:**
- **Bullish Case:** Price rebounds from the support zone and heads back towards **85,143+**.
- **Bearish Case:** If Bitcoin fails to hold above **83,500**, further downside is likely.
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Join my telegram channel free
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Join my referal broker link
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.