Bitcoin Price Prediction: BTC/USD Resumes the Uptrend; Break Past $6,500

Bitcoin (BTC) Price Prediction – March 30

Bitcoin increased by a total of 11.17% since opening up today as it currently trades at $6,533.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $7,800, $8,000, $8,200

Support Levels: $4,800, $4,600, $4,400

BTCUSD – Daily Chart

The Bitcoin price has regrouped and energized the market, moving from a bearish weekend session that led the coin to losses under $6,000. Meanwhile, BTC/USD is trading above the 9-day and 21-day moving averages at $6,533 after correcting high by over 11.17%. The bullish action is likely to take on the resistance at $6,800 whereby a breakout could emanate towards the psychological $7,200.

However, to be on the safe side, higher support is required, preferably above $6,100 and buyers should also not lose focus on the critical level at $7,000. In the case of a reversal, $6,200 may come in handy as a support zone above the vital $6,000 and $5,800 zones. Nevertheless, if BTC/USD can break back above the ascending channel, the first level of resistance lies at $7,500. Above this, resistance lies at $7,800, $8,000, and $8,200 levels.

Furthermore, toward the downside, the support lies at $4,800, $4,600 and $4,400. Looking at the daily chart, the technical indicator RSI (14) focuses on the north which may likely boost the bullish movement of the coin.

BTC/USD Medium-Term Trend: Ranging (4H Chart)

The 4-hour chart shows that the price is finding its way upward as the RSI (14) is about to cross above the 60-level. Although, the bears have dominated the market for some time now; it is high time for the bulls to defend the $6,500 level and push the price towards the north.

BTCUSD – 4 Hour Chart

Moreover, if the bulls push the coin above channel formation, the price of Bitcoin may likely reach the potential resistance levels of $6,900, $7,100 and $7,300. Presently, the market is following an upward movement as the technical indicator faces the north.

Please note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.

      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.