HomePrice PredictionsBTCBitcoin Under Pressure: Will $81,300 Support Level Hold Strong?

Bitcoin Under Pressure: Will $81,300 Support Level Hold Strong?

Date:

Bitcoin Technical Analysis: 31 MAR 2025

BTC Technical Analysis

Bitcoin active CME gap now almost +3% from the current price. Source: TradingView

General View 

Bitcoin continues to struggle beneath its descending trendline, facing rejection near $87,000 and breaking below intra-day support. The market structure remains weak, with the 12-hour timeframe now forming a death cross, signaling potential continuation of the downtrend. This technical development is concerning from a bullish standpoint, as it suggests that short-term rallies may face heavy resistance. At the same time, the active CME gap sits around 3% above the current price, near $84,400. Historically, Bitcoin has shown a tendency to revisit and fill CME gaps before making a decisive move in either direction.

On The Upside

Bitcoin is starting to react positively towards the intra-day support level, indicating an early attempt at recovery. However, the price still faces multiple intra-day resistances, with the first hurdle at $82,100, followed by a stronger barrier at $82,900. A successful reclaim of these levels could open the door for an extended upside, allowing Bitcoin to regain lost ground.

On The Downside, 

The intra-day support level of $81,300 has been holding well. Price is starting to react positively to this support level. However, if the support level is breached, it could lead to a more significant drop. The next support levels after $81,300 stands at $80,250 to $79,800 levels.

BTC Technical Analysis

Price starting to break the intra-day support level. Source: TradingView

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Usman Ali
Usman Ali
A writer and market analyst with expertise in cryptocurrencies. He focuses on delivering clear, insightful, and well-structured content, emphasizing advanced trading strategies and in-depth market analysis. His writing style prioritizes clarity and professionalism, ensuring that complex market trends are easy to understand. He is keen on keeping his work organized, direct, and valuable for his audience.

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