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Bitcoin Price Finds Support—But Can It Power Through $90K?

n70products by n70products
March 29, 2025
in Market & Analysis
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Bitcoin Price Finds Support—But Can It Power Through $90K?
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Bitcoin worth remained supported above the $85,500 zone. BTC is now rising and may intention for a transfer above the $88,000 resistance zone.

  • Bitcoin began a contemporary restoration wave above the $87,000 zone.
  • The worth is buying and selling above $87,000 and the 100 hourly Easy transferring common.
  • There’s a key bearish pattern line forming with resistance at $88,200 on the hourly chart of the BTC/USD pair (information feed from Kraken).
  • The pair may begin one other improve if it clears the $88,000 and $88,200 ranges.

Bitcoin Worth Stays Supported

Bitcoin worth remained secure above the $85,500 stage. BTC shaped a base and just lately began a restoration wave above the $86,200 resistance level.

The bulls pushed the worth above the $87,000 resistance stage. There was a good upward transfer and the worth was in a position to clear the 50% Fib retracement stage of the latest draw back correction from the $88,259 swing excessive to the $85,853 swing low.

Bitcoin worth is now buying and selling above $86,500 and the 100 hourly Simple moving average. On the upside, instant resistance is close to the $87,700 stage and the 76.4% Fib retracement stage of the latest draw back correction from the $88,259 swing excessive to the $85,853 swing low.

The primary key resistance is close to the $88,000 stage. The subsequent key resistance may very well be $88,200. There may be additionally a key bearish pattern line forming with resistance at $88,200 on the hourly chart of the BTC/USD pair.

Bitcoin Price
Supply: BTCUSD on TradingView.com

A detailed above the $88,200 resistance may ship the worth additional larger. Within the acknowledged case, the worth may rise and check the $89,500 resistance stage. Any extra positive aspects may ship the worth towards the $90,000 stage and even $90,500.

One other Drop In BTC?

If Bitcoin fails to rise above the $88,200 resistance zone, it may begin a contemporary decline. Fast help on the draw back is close to the $87,000 stage. The primary main help is close to the $86,500 stage.

The subsequent help is now close to the $85,500 zone. Any extra losses may ship the worth towards the $85,000 help within the close to time period. The primary help sits at $84,500.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now above the 50 stage.

Main Help Ranges – $87,000, adopted by $86,500.

Main Resistance Ranges – $88,000 and $88,200.



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