GM, Bitstampers!
In today’s update, we’re diving into Bitcoin’s recent price action, analyzing its current trend, and identifying key support and resistance levels.
Bitcoin Market Commentary
Bitcoin reached a new all-time high (ATH) of $109.4K on January 20, 2025, on Bitstamp. Since then, the price has been in a sustained downtrend, marking 50 consecutive days without a meaningful trend reversal.
On March 9, BTC broke below the 200-day simple moving average (SMA) and had repeatedly failed to reclaim it—until yesterday, when it made a conclusive close above it, indicating a potential trend reversal.
We’re closely watching key support and resistance levels:
If Bitcoin bottomed on March 11, that would mark an almost 30% correction lasting 50 days.
What’s next for Bitcoin? Has it bottomed, or is further downside in play? When do you think Bitcoin will trade above 100K again? Share your thoughts in the comments!
In today’s update, we’re diving into Bitcoin’s recent price action, analyzing its current trend, and identifying key support and resistance levels.
Bitcoin Market Commentary
Bitcoin reached a new all-time high (ATH) of $109.4K on January 20, 2025, on Bitstamp. Since then, the price has been in a sustained downtrend, marking 50 consecutive days without a meaningful trend reversal.
On March 9, BTC broke below the 200-day simple moving average (SMA) and had repeatedly failed to reclaim it—until yesterday, when it made a conclusive close above it, indicating a potential trend reversal.
We’re closely watching key support and resistance levels:
- March 11 low – Bitcoin touched 76K, and established short-term support.
- Next major support – Around 73K, aligning with the March 2024 high. A drop to this level would mark a >30% correction from ATH.
- With Bitcoin reclaiming the 200-day SMA, indicating a potential trend reversal, levels around 90K could act as an important line of resistance.
If Bitcoin bottomed on March 11, that would mark an almost 30% correction lasting 50 days.
What’s next for Bitcoin? Has it bottomed, or is further downside in play? When do you think Bitcoin will trade above 100K again? Share your thoughts in the comments!
tradingview.com/watchlists/74745881/
This post does not offer personal investment advice or recommendations. Bitstamp accepts no responsibility for any damage or loss from the utilization of the information presented here.
This post does not offer personal investment advice or recommendations. Bitstamp accepts no responsibility for any damage or loss from the utilization of the information presented here.
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.
tradingview.com/watchlists/74745881/
This post does not offer personal investment advice or recommendations. Bitstamp accepts no responsibility for any damage or loss from the utilization of the information presented here.
This post does not offer personal investment advice or recommendations. Bitstamp accepts no responsibility for any damage or loss from the utilization of the information presented here.
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.