Bitcoin Technical Analysis: 15 MAR 2025
Bitcoin’s price is close to trendline resistance. Source: TradingView
General View
Bitcoin has rebounded in recent days, pushing back from its downward trend. Bulls are showing strong resilience as the price moves within the congestion zone, holding above the key weekly support area. The falling wedge pattern is being tested, and Bitcoin could be primed for a breakout. Meanwhile, any rejection from the resistance area could cause a slowdown and a partial dip.
On the Upside
Despite back-to-back attempts, bulls have yet to break above the immediate resistance levels of $84,200 to $84,500. They have been looking at this level to attain a breakout towards $86,680 but have failed until now. Ideally, the sooner they push for this breakout, the stronger the move will be.
On the Downside
In yesterday’s session, the price not only converted $81,700 into a support level but also pushed $83,800 into a support level. Both these lower time-frame supports are currently favoring the bulls. Meanwhile, below these levels, the next key support is present at $80,050. A level that sellers must break if they want to gain a short-term upper hand.
Post-breakout levels to watch. Source: TradingView
