Bitcoin Technical Analysis: 27 MAR 2025
Intra-Day Resistance flipped into support. Source: TradingView
General View
Bulls have been doing well since breaking out of the falling wedge pattern, signaling a shift in control. The price is now consolidating near intra-day resistance levels, attempting to gain momentum for further upward movement. However, the descending trendline from previous highs is still limiting the upside. If bulls can drag Bitcoin above the $89K level, another intra-day breakout is likely, pushing the price higher.
On The Upside
Immediate resistance lies at the $88,050 and $88,600 levels. This is where bulls have been struggling to find extended continuation. A firm breakout above $89,000, coupled with the clearance of the descending trendline, could pave the way for an acceleration toward stronger resistance at $91,350, followed by $92,800.
On The Downside,
The previous intra-day resistance level of $87,000 has now been flipped into an intra-day support. Below this, there is another strong intra-day support at the $86,150 level. As of now, bulls have been holding well; however, this strength needs a bullish continuation as soon as possible. If $89K continues to create rejections, the intra-day supports could potentially weaken.
Descending trendline at $89K is a key resistance. Source: TradingView
