Bitcoin Technical Analysis: 18 MAR 2025
Price faces a minor rejection from wedge trendline resistance. Source: TradingView
General View
Bulls are facing a marginal rejection at trendline resistance, keeping Bitcoin within the descending wedge pattern. However, the price remains above the $80,000 support zone, indicating that buyers are gradually absorbing selling pressure. An active CME gap above the current price serves as a key upside target, aligning with Bitcoin’s tendency to fill these gaps. Overall, volatility is expected in the session.
On the Upside
Once again, price partially succeeded in getting above the $84,300 level. However, the above resistance zone of $84,800–$85,000 got the better of the bulls and rejected the move. Bitcoin will have renewed intra-day resistance at $83,050 initially, followed by a $83,720 level. Meanwhile, the CME gap zone spans from $84,300 to $86,430.
On the Downside,
Bitcoin as of now is taking support from the intra-day level of $82,200. Price has been holding this level for the last few hours. Below this, there is another intra-day support at the $81,700 level. These supports are likely to offer some assistance over the session, however, if these supports are breached, Bitcoin can slide lower into the strong support range of $80,700 to $79,050.
CME gap zone, partially filled only. Source: TradingView
