Bitcoin Price Prediction – March 27
The Bitcoin price is now hovering around $44,907 after hitting a daily high of $45,042 at the start of the day.
BTC/USD Long-term trend: oscillating (daily chart)
Key bits:
Resistance levels: $50,000, $52,000, $54,000
Support levels: $40,000, $38,000, $36,000
BTCUSD – Daily Chart
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The latest movement of BTC/USD may mark a bullish phase of an upside breakout. However, it is important to note that the bulls and bears have yet to push the Bitcoin price above the $45,000 resistance level. Therefore, the Bitcoin price has been trying to enter the positive side since the European trading session.
Bitcoin Price Prediction: Can Bitcoin (BTC) Run Towards?
The Bitcoin price is above its opening price of $44,538 and the current trend shows a slight uptrend compared to the past few days. However, it is important to note that the current level could break through the upper boundary of the channel, triggering a bullish breakout. In addition, with the technical indicator Relative Strength Index (14) crossing above the 60 level, Bitcoin is poised to face upward pressure.
However, if the upward trend continues beyond the channel, it may find the nearest resistance around $48,000, followed by potential resistance at $50,000, $52,000, and $54,000. In addition, if the technical indicator relative strength index (14) falls below the 60 level, BTC/USD may experience a bearish trend again and may hit the support levels of $40,000, $38,000, and $36,000.
BTC/USD medium-term trend: Bullish (4-hour chart)
Looking at the 4-hour chart, BTC/USD needs to stay above the 9-day moving average and the 21-day moving average to ease short-term bull pressure and allow further recovery to $45,000. Therefore, higher resistance may be located above $47,000.
BTCUSD – 4-hour chart
However, the price of Bitcoin could fall below the 9-day moving average, and a sustained move below this resistance level could increase downward pressure, leading to support below $43,000. At the same time, the technical indicator Relative Strength Index (14) crossed below the 70 level, suggesting a bearish trend.
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