Bitcoin (BTC) Recovers, Is a Full Bounce on the Way? Here are the Technical Indicators (3/13/25)
Jakarta, Pintu News – Bitcoin experienced a sharp drop below the $86,000 zone and is now in a recovery phase. However, challenges at several price levels might affect the pace of its recovery.
Bitcoin Price Recovery
After experiencing a significant drop below the $85,000 level, Bitcoin (BTC) briefly traded below $82,000 and $80,000 support. The lowest point was recorded at $76,818, but now the price has started a recovery wave. The rise above the $78,000 and $80,000 resistance levels indicates an attempt by buyers to recover losses.
Bitcoin (BTC) managed to break the bearish trend line with resistance at $82,000 on the hourly chart of the BTC/USD pair. Currently, the price is below $84,000 and the 100 hourly simple moving average. The next immediate resistance is at $83,200, with the first key resistance at $84,000.
Also Read: Crypto Analyst RektProof’s Astonishing Prediction: Bitcoin (BTC) Will Break $130,000!
Resistance and Upside Potential
The 50% Fib retracement level of the move down from $91,060 to $76,818 is also near $84,000. If Bitcoin (BTC) can break the $85,000 resistance, it might push the price even higher. In that scenario, the price could try to break $86,500 and potentially reach $88,000 or even $96,200.
However, keep in mind that there is some resistance to overcome before reaching these levels. Any price increase should be followed by high trading volumes to ensure the continuation of the uptrend.
Possible Fall Back
If Bitcoin (BTC) fails to break the $84,000 resistance zone, there is a possibility that the price will drop again. Immediate support is at $81,200, with the next major support at $80,000. Further support is at the $78,000 zone. Missing this support could push the price towards $76,500 support in the short term. Major support is at $75,000, which if broken, could trigger further declines.
Technical Indicators
The hourly MACD indicator is now starting to lose momentum in the bullish zone. Meanwhile, the Relative Strength Index (RSI) for BTC/USD is above the 50 level. This suggests that there is still strength on the buyers’ side, although the market should still be cautious of potential declines. Constant monitoring of these indicators will provide further insight into the potential future price movements of Bitcoin (BTC).
Conclusion
With market conditions currently full of uncertainty, investors and traders should remain vigilant on Bitcoin (BTC) price movements. Monitoring support and resistance levels and technical indicators will be crucial in determining the right trading strategy.
Also Read: Potential XRP Market Explosion After SEC Lawsuit Settlement: XRP Post-Lawsuit Analysis
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- NewsBTC. Bitcoin Price Recovers to $82K. Accessed on March 13, 2025
- Featured Image: Generated by AI
