Bitcoin (BTC) Price Prediction Analysis for March 10
Bitcoin (BTC) has fallen by 3.55% recently, breaking local support at $80,190. Continued declines may lead to a testing of the $78,000 and $75,000 levels. If prices remain below $80,000, further downtrend towards $70,000 may occur, with current trading at approximately $79,880.
The Bitcoin (BTC) market has experienced a decline, with prices falling by 3.55% in the last 24 hours, as reported by CoinMarketCap. According to TradingView, BTC is currently breaking through a local support level of $80,190. If the price remains below this threshold at the close of the daily bar, further correction towards the $78,000 zone is anticipated.
On a broader time frame, traders should monitor the interim level of $78,197. A breakout below this level could lead to testing the $75,000 range before the end of the month, as suggested by TradingView. Additionally, there are currently no signals indicating a reversal in the midterm.
If buyers fail to regain control and the price stabilizes below the $80,000 mark, a further decline towards $70,000 could be expected. At present, Bitcoin is trading at approximately $79,880.
In summary, the recent trends indicate a significant decline in Bitcoin prices, with critical support levels being breached. Traders should remain vigilant as further corrections could ensue if price instability continues. Continuous monitoring of these levels will be essential for forecasting short-term movements in the Bitcoin market.
Original Source: www.tradingview.com
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