Bitcoin Price Prediction – March 14
The Bitcoin price prediction shows that BTC is hovering at $38,716 after touching the daily high of $39,310 at the beginning of today.
BTC/USD Long-term Trend: Bearish (Daily Chart)
Key levels:
Resistance Levels: $44,000, $46,000, $48,000
Support Levels: $34,000, $32,000, $30,000
BTC/USD is following the bullish movement as the latest move could launch the king coin into the bullish phase. So, it is important to note that the bulls are yet to push the Bitcoin price to cross the key technical levels and it may need to cross above the 9-day and 21-day moving averages in the next positive directions.
Bitcoin Price Prediction: Bitcoin (BTC) May Consolidate Before Moving Higher
The Bitcoin price is trading up above its opening price of $37,793 as the current movement marks a slight climb from where it has been trading for the past few days. In the meantime, it is important to note that this current level could mark a bullish break towards the upper boundary of the channel. Moreover, as the technical indicator Relative Strength Index (14) moves to cross above 50-level, the king coin is getting ready to face the upside.
As revealed on the daily, the Bitcoin price prepares to cross above the 9-day and 21-day moving averages, crossing above this barrier would cause the king coin to hit the resistance levels of $44,000, $46,000, and $48,000. Meanwhile, if the technical indicator Relative Strength Index (14) retreats below 50-level, BTC/USD may experience another downward movement which may bring the price to the support levels at $34,000, $32,000, and $30,000 respectively.
BTC/USD Medium-Term Trend: Ranging (4H Chart)
On the 4-hour chart, BTC/USD consolidates around the 9-day and 21-day moving averages for it to mitigate the short-term bullish pressure and allow for a recovery towards the nearest resistance level of$40,000. Therefore, any further bullish movement may locate the potential resistance level at $42,000 and above.
Moreover, the Bitcoin price is likely to fall below the moving averages as a sustainable move below this barrier may increase the downside pressure to the support level of $36,000 and below. Meanwhile, the technical indicator Relative Strength Index (14) moves in the same direction under 50-level, suggesting sideways movement.
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