The price of Bitcoin still fails to make a concrete break above $ 42,000 and stay above. We had such an attempt yesterday, where the price climbed to 42,450 dollars. After that, we had a rapid withdrawal of up to $ 40,550. The MA20 moving average is now on the bearish side and puts a little pressure on the price, while the MA50 and MA200 are in the zone of around $ 40,000. The geopolitical situation is still unstable, which keeps buyers on the sidelines, and that could further lower the price of bitcoin. A break below $ 40,000 and moving averages to the bearish side could lower the previous March support zone price of $ 37,200-37675. For the bullish option, we need a break above the $ 43,000 level. After that, we can expect growth to the March resistance zone of about $ 45,000
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.