Bitcoin Technical Analysis: 26 MAR 2025
Price is getting closer to the descending trendline. Source: TradingView
General View
Bitcoin has rebounded strongly from its key support levels, climbing steadily in recent days. The price has now reached the descending trendline resistance, a critical level that has previously triggered pullbacks. Meanwhile, on the lower timeframe, Bitcoin remains within an ascending channel, showing short-term strength. Bulls are attempting to maintain control, but they face immediate resistance ahead. A stronger breakout could materialize in the coming sessions if bulls can sustain momentum above this trendline. Meanwhile, any rejections here would warrant caution, as there is also a rising wedge in the making, which could lead to profit-taking rounds as well.
On The Upside
The immediate resistance lies at the descending trendline, which aligns with the $88,000-$89,000 region. A successful breakout above this zone could open the path toward the $90,450-$90,700 levels, where the channel top is currently positioned. This is where the price will become increasingly volatile as bulls and bears go head-to-head.
On The Downside,
The price is currently supported by several intra-day levels. Initially, the ascending trendline mid-level is providing support at $87,080. This level has been holding well recently, suggesting that bulls are starting to flip levels into support more effectively. However, below this level, the next intra-day supports are at $86,150, followed by $85,250.
Bitcoin’s current ongoing ascending channel. Source: TradingView
