Bitcoin (BTC) Price Analysis for March 25

The neutral mode on the cryptocurrency market has continued on the weekend, according to CoinMarketCap’s ranking.

Top 10 coins by CoinMarketCap


The rate of Bitcoin (BTC) has gone down by 1.78% over the last 24 hours.

BTC/USD chart by TradingView

On the hourly chart, the rate of Bitcoin (BTC) is returning to the recently formed support level at $27,374. If the decline continues and the candle closes near the aforementioned mark, the breakout may lead to a drop to the $27,000 zone soon.

BTC/USD chart by TradingView

On the daily time frame, the price has once again failed to fix above the $28,000 mark, which means that there is a high chance to see a correction before a continued rise. In this case, one can expect a test of the support at $26,707 shortly.

BTC/USD chart by TradingView

From the midterm point of view, the situation is unclear as the price is between the support at $26,845 and the resistance at $28,474.

In this regard, the more likely scenario is sideways trading so one side could accumulate enough energy for a further sharp move.

Bitcoin is trading at $27,460 at press time.

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