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BTCUSDC BTCUSDC.P Bitcoin (BTC) Price Analysis Based on Marked Levels (March 8, 2025)
Overview:
The BTC price chart presents a clear breakdown from key resistance levels, currently testing potential support zones. The chart includes resistance levels, support zones, and trend indicators, highlighting recent price action and possible next moves.
Key Observations:
1. Major Resistance Levels:
$97,411.65 → Strong historical resistance; a significant level BTC needs to break for bullish continuation.
$93,822.35 (Current Resistance) → This is the immediate resistance, indicating BTC is struggling to regain higher levels after a major drop.
$90,233.04 (Initial Resistance) → Acts as a short-term barrier. BTC must reclaim this level to regain bullish momentum.
2. Price Action & Recent Decline:
BTC recently dropped from a high of ~$109,396 and has lost approximately 8.29% within a recent session.
Bearish momentum has intensified after breaking below $90,233.04, confirming resistance.
The presence of trend-based indicators (bands in red/white/green) suggests a significant volatility phase.
3. Support Levels:
$86,122.09 (Current price region) → BTC is testing this level as potential short-term support. If broken, further downside risk increases.
$68,903.91 (1st Support) → Major support in case of further decline; losing this level could signal deeper correction.
$58,901.80 (Low) & $56,492.93 - $54,361.44 (Major Support) → These levels would act as critical bottom structures if BTC enters a prolonged bearish phase.
Trend & Potential Scenarios:
Bullish Case (Recovery Above $90,233.04):
BTC must reclaim $90,233.04 and hold above it to confirm strength.
A move beyond $93,822.35 would invalidate the current bearish structure, opening the way toward $97,411.65.
If BTC flips $97,411.65 into support, a renewed bullish run toward $100K+ could emerge.
Bearish Case (Break Below $86,122.09):
Losing $86,122.09 could lead to a deeper correction toward $68,903.91 (next major support).
If macro conditions remain bearish, BTC could test $58,901.80 - $56,492.93.
Below $54,361.44, market sentiment would turn highly bearish, indicating a prolonged downturn.
Conclusion:
BTC is at a critical juncture, currently testing support near $86K after a strong rejection from above $100K.
If it reclaims $90,233, bullish momentum could resume.
A breakdown below $86K could trigger further declines, targeting $68K or lower support levels.
The macro trend remains uncertain, and BTC traders should closely monitor resistance flips and support breakdowns for confirmation.
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.