Bitcoin (BTC/USD) – Weekly Chart Analysis (March 12, 2025)
Market Structure & Key Levels:
Price: $82,451
Bitcoin recently pulled back after reaching a new high above $100,000, correcting toward a major support area around $68,594.
The previous all-time high (ATH) from 2021 (~$68,000) has turned into a key support level.
The ascending trendline is also aligning with this support zone, making it a crucial decision point for BTC's next move.
Possible Scenarios:
Bullish Scenario:
If BTC bounces from the trendline and $68,594 support, it could resume its uptrend, targeting $90,000+ again.
Confirmation would come from a strong green candle, high volume, and RSI rebounding above 50.
Bearish Scenario:
A break below $68,594 and the ascending trendline would shift BTC into a deeper correction phase.
Potential next support levels:
$50,000 psychological level
$40,000 major demand zone
RSI & Momentum Analysis:
RSI (14) is at 46.35, indicating neutral-to-bearish momentum.
BTC is at a crucial spot—if RSI falls further, it may confirm continued downside.
Key Takeaway:
Crucial support: $68,594 (watch for price reaction)
Bullish confirmation: Bounce from support & RSI recovery
Bearish risk: Breaking trendline → possible drop to $50K
Market Structure & Key Levels:
Price: $82,451
Bitcoin recently pulled back after reaching a new high above $100,000, correcting toward a major support area around $68,594.
The previous all-time high (ATH) from 2021 (~$68,000) has turned into a key support level.
The ascending trendline is also aligning with this support zone, making it a crucial decision point for BTC's next move.
Possible Scenarios:
Bullish Scenario:
If BTC bounces from the trendline and $68,594 support, it could resume its uptrend, targeting $90,000+ again.
Confirmation would come from a strong green candle, high volume, and RSI rebounding above 50.
Bearish Scenario:
A break below $68,594 and the ascending trendline would shift BTC into a deeper correction phase.
Potential next support levels:
$50,000 psychological level
$40,000 major demand zone
RSI & Momentum Analysis:
RSI (14) is at 46.35, indicating neutral-to-bearish momentum.
BTC is at a crucial spot—if RSI falls further, it may confirm continued downside.
Key Takeaway:
Crucial support: $68,594 (watch for price reaction)
Bullish confirmation: Bounce from support & RSI recovery
Bearish risk: Breaking trendline → possible drop to $50K
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.
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.