Bitcoin Price Prediction: BTC/USD Plunges Back Below $40,000 Level ByAzeez MustaphaPRO INVESTOR Updated: 10 March 2022 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Price Prediction – March 10 The Bitcoin price prediction shows that BTC slides below the moving averages as the coin touches at $38,560 support. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $46,000, $48,000 $50,000 Support Levels: $35,000, $33,000, $31,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is facing a setback as the king coin is likely to have a bearish run in the short term as a price rally may help the coin to head to the south. Now, Bitcoin (BTC) is trading around the $39,188.20 level after a free fall from $42,053 during the European session and the coin has shown tremendous volatility over the past two days. Bitcoin Price Prediction: Bitcoin (BTC) May Retreat Before Breaking Higher Looking at the daily chart, the Bitcoin price is currently nose-diving below the 9-day and 21-day moving averages. If the price should slump below the support level of $38,000, the king coin is likely to face additional downward trends. However, the further bearish movement could locate the supports at $35,000, $33,000, and $31,000, making room for BTC to fall even further. In the meantime, the technical indicator Relative Strength Index (14) is crossing below 50-level as trading volume be in support of the bears. On the contrary, if the bulls decide to move the price above the moving averages, BTC/USD may likely cross above the upper boundary of the channel to locate the resistance levels at $46,000, $48,000, and $50,000. BTC/USD Medium-Term Trend: Ranging (4H Chart) On the 4-hour chart, the Bitcoin price stays below the 9-day and 21-day moving averages, and the immediate support is likely to come at the $38,000 level. The price may likely fall below this level if the bears fully stepped back into the market. BTCUSD – 4 Hour Chart Moreover, a further bearish movement could test the critical support at the $36,000 level and below while the resistance could be located above the moving averages at the resistance level of $42,000 and above. Technically, Bitcoin is currently moving into the negative side as the technical indicator Relative Strength Index (14) is likely to cross below 40-level. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 68% of retail investor accounts lose money when trading CFDs with this provider Read more: How to buy Bitcoin How to buy Cryptocurrency Join Our Telegram channel to stay up to date on breaking news coverage