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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: Insidebitcoins.com 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.

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      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.