Bitcoin Technical Analysis: 30 MAR 2025
Bitcoin drops to intra-day supports after breaking the rising wedge pattern. Source: TradingView
General View
Bitcoin is recovering after testing a key support zone, but momentum has not yet shifted in favor of the bulls. The bounce is largely driven by short-covering, following extreme oversold conditions on multiple indicators. For any sustainable upside, a clear and firm base needs to develop; otherwise, any further price increases will likely be seen as a selling opportunity for short-sellers.
On The Upside
Bitcoin is approaching the primary intra-day resistance at $83,500–$83,750, a key short-term level that could trigger partial profit-taking. While this resistance may slow the current recovery, the CME gap remains unfilled, making it likely that the price will continue its push higher. Additionally, Bitcoin is expected to move towards the $84,400 CME gap level, where the weekly closing is expected.
On The Downside
In yesterday’s session, Bitcoin squeezed lower towards the $82,000 and $81,300 support levels, where a strong reaction from buyers was observed, pushing the price back higher. This confirms that demand remains active at these levels. Meanwhile, for today’s session, an additional support level has emerged at $82,800, which could provide a cushion against further downside if tested again.
Bitcoin’s active CME Gap. Source: TradingView
