Bitcoin (BTC/USD) Price Action & Key Levels – March 20, 2025### **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.
