Bitcoin Price Prediction Analysis for March 28
Bitcoin’s price has decreased by 1.45% in 24 hours, trading at $85,530. If it does not rebound from $84,877, it may drop to $84,000. A candle close near $86,000 could set the stage for a test of $82,000-$83,000 this week. A continued decline towards $80,000 is possible if key resistance levels are not held by month-end.
The price of Bitcoin (BTC) has recently experienced a decline, with a decrease of 1.45% in the past 24 hours, as reported by CoinMarketCap. Currently, BTC is trading at approximately $85,530. As observed on the hourly chart, Bitcoin is approaching a local support level of $84,877, and if it fails to rebound by day’s end, a further drop to the $84,000 mark may occur.
On the daily chart, no reversal signals are evident. A closing candle near $86,000 could indicate a potential test of the $82,000-$83,000 range by the week’s conclusion. Furthermore, from a midterm perspective, BTC experienced a false breakout above the previous week’s high, suggesting that if the weekly candle does not remain above this level, a continued downturn towards $80,000 is likely by the end of the month.
In summary, Bitcoin’s price faces pressure as it approaches critical support levels. Without a rebound, a dip to the $84,000 region appears plausible. Daily and weekly trends indicate the potential for further declines unless the price can stabilize above $86,000. Traders should remain vigilant as market conditions evolve through the end of March.
Original Source: www.tradingview.com
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