BTC/USD (1D) Technical Analysis – March 10, 2025
Market Structure & Price Action:
Bitcoin was previously in an ascending channel, making higher highs and higher lows.
The price has broken below the channel, signaling a potential trend shift or deep pullback.
BTC is currently testing the $79,966 level, with the next major support at $73,074.
Volume Analysis:
Volume has increased during the recent sell-off, indicating strong selling pressure.
If buyers do not step in soon, BTC could continue dropping toward $73,000 or even lower.
RSI Indicator:
RSI is at 33.69, close to the oversold zone.
A bounce could be expected soon, but RSI has room to drop further before a strong reversal.
Key Levels to Watch:
Resistance: $90,000 (previous support in the channel)
Support: $73,074 (major level), followed by $55,247 if the drop extends further.
Potential Trading Scenarios:
Bullish Case: If BTC finds support at $73,000 and RSI confirms a bullish divergence, a recovery back into the channel is possible.
Bearish Case: If BTC breaks below $73,000, it could accelerate downward toward $55,000 as the next major demand zone.
Market Structure & Price Action:
Bitcoin was previously in an ascending channel, making higher highs and higher lows.
The price has broken below the channel, signaling a potential trend shift or deep pullback.
BTC is currently testing the $79,966 level, with the next major support at $73,074.
Volume Analysis:
Volume has increased during the recent sell-off, indicating strong selling pressure.
If buyers do not step in soon, BTC could continue dropping toward $73,000 or even lower.
RSI Indicator:
RSI is at 33.69, close to the oversold zone.
A bounce could be expected soon, but RSI has room to drop further before a strong reversal.
Key Levels to Watch:
Resistance: $90,000 (previous support in the channel)
Support: $73,074 (major level), followed by $55,247 if the drop extends further.
Potential Trading Scenarios:
Bullish Case: If BTC finds support at $73,000 and RSI confirms a bullish divergence, a recovery back into the channel is possible.
Bearish Case: If BTC breaks below $73,000, it could accelerate downward toward $55,000 as the next major demand zone.
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Penafian
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.