Bitcoin Technical Analysis: 24 MAR 2025
Bitcoin’s uptrend is starting to pace up. Source: TradingView
General View
Bitcoin remains in a strong uptrend, maintaining its structure within an ascending channel. The latest breakout shows bullish dominance, with price steadily climbing after a period of consolidation. Buyers have absorbed selling pressure well, keeping the momentum intact. However, an active CME gap below signals potential retracement risks if buyers lose control. For now, Bitcoin continues to push higher, and as long as the trend structure holds, the broader bullish sentiment remains in play.
On The Upside
Bitcoin is approaching key intra-day resistance levels, with the next targets between $88,200 and $89,300. A decisive breakout above this zone could send the price towards the channel’s upper boundary, possibly extending beyond $90,000. If momentum continues $95K and $100K levels can be back in action.
On The Downside,
Bitcoin is starting to turn $87,000 into a support level, followed by $85,600. Both of these will be the session’s primary supports. Price is likely to maintain strong momentum as long as the $87K level is protected throughout the session. However, there remains a risk, as Bitcoin has an unfilled CME gap between $83,930 and $87,620. If Bitcoin fails to hold above key levels, a further pullback toward the lower boundary of the channel could be in play.
New Bitcoin CME gap appearing at lower levels. Source: TradingView
