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Home»Analysis»Bitcoin – Price tries a comeback – is a recovery rally on the horizon?
Analysis

Bitcoin – Price tries a comeback – is a recovery rally on the horizon?

2025-03-08No Comments3 Mins Read
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Bitcoin Price started a recovery wave from the $ 82,000 zone. BTC is back above $ 88,500 and can review the $ 95,000 resistance zone.

  • Bitcoin started a new upward movement from the $ 82,000 zone.
  • The price is traded above $ 90,000 and the simple simple advancing average of 100 hours.
  • There was a break over a connecting bearish trend line with resistance at $ 90,000 on the hourly table of the BTC/USD pair (data feed from Kraken).
  • The couple can start a new decline if it did not know the $ 95,000 resistance zone.

Bitcoin -Price starts recovery

Bitcoin price started a new fall below the level of $ 92,000. BTC traded under the support levels of $ 90,000 and $ 88,000. Finally, the price tested the $ 82,000 support zone.

A low point was formed at $ 81,434 and the price recently started a recovery wave. There was a movement above the resistance levels of $ 85,000 and $ 88,000. The bulls pushed the price above the 50% FIB racement level of the downward movement of the $ 95,000 resistance to $ 81,434 low.

There was also a break over a connecting bearish trend line with resistance at $ 90,000 on the hourly table of the BTC/USD pair. Bitcoin Price is now traded above $ 90,000 and the 100 -hour simple advancing average.

See also  'Michael Saylor should borrow $4.3 billion and buy seized Bitcoin' - Peter Schiff

At the top is immediate resistance near the $ 91,800 level or the 76.4% FIB retracement level of the downward movement of the $ 95,000 resistance to $ 81,434 low. The first key resistance is near the level of $ 92,500. The next key resistance can be $ 93,500.

Bitcoin -price
Source: BTCUSD on TradingView.com

An end above the resistance of $ 93,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 95,000 tests. More profits can send the price to the level of $ 96,200 or even $ 98,000.

Another decline in BTC?

If Bitcoin does not rise above the $ 92,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 88,000. The first major support is near the level of $ 86,200.

The next support is now near the $ 85,000 zone. More losses can send the price in the short term to the support of $ 82,000. The most important support is at $ 80,000.

Technical indicators:

MACD per hour – The MACD now wins pace in the bullish zone.

Picly RSI (Relative strength -Index) -The RSI for BTC/USD is now above 50 -level.

Important support levels – $ 88,000, followed by $ 85,000.

Important resistance levels – $ 92,000 and $ 93,500.

Source link

Bitcoin comeback Horizon Price rally Recovery
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