Bitcoin Price Prediction – March 19
The Bitcoin price prediction reveals that BTC may break out of the current short-term pattern and move towards the $45,000 level.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $46,000, $48,000, $50,000
Support Levels: $38,000, $36,000, $34,000
BTC/USD is currently trading around $41,231 with a 0.65% gain in the past 24-hour. Looking at the daily chart, the Bitcoin price is struggling to stay above the important level of $42,000. More so, for BTC/USD to remain above this level for the past few days, it has made many traders feel that the $40,000 support level could be pretty strong.
Bitcoin Price Prediction: BTC Price May Break Higher
The Bitcoin price touches the daily low of $41,534 today, if the number-one crypto breaks below this level, it could test the next support lines around the 9-day moving average at $40,000 level. Alternatively, Bitcoin reclaims the previous resistance level at $42,000 to head upwards. If successful, the primary cryptocurrency could aim at $46,000, $48,000, and $50,000 resistance levels.
However, the technical indicator Relative Strength Index (14) is moving in the range as the signal line moves to cross above 60-level. More so, this means that there may still be a room that could be explored by the bears if it crosses below the moving averages. Moreover, the critical supports at $38,000, $35,000, and $33,000 may play out.
BTC/USD Medium – Term Trend: Ranging (4H Chart)
From a technical point of view, on the 4-hour chart, the technical indicator Relative Strength Index (14) keeps moving above 60-level and this confirms the bullish movement. Meanwhile, adding to the above, there is a little bit of bullish divergence on the RSI (14) as the signal line may cross into the overbought region.
However, if the Bitcoin price breaks below the 9-day and 21-day moving averages, the market price may likely reach the support at $40,000 and below. Meanwhile, if the current market value rises and moves toward the upper boundary of the channel, it may likely reach the resistance at $44,000 and above.
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