Bitcoin Price Prediction: BTC/USD Stabilizes Above $38,000 Level ByAzeez MustaphaPRO INVESTOR Updated: 08 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 8 The Bitcoin price prediction shows that BTC is trading at $38,727 but the coin seems to be preparing for another upward movement. BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $45,000, $47,000, $49,000 Support Levels: $32,000, $30,000, $28,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is trading towards the 9-day and 21-day moving averages at $38,727 as the coin prepares to gain additional higher levels. Today, the number one crypto is likely to extend towards the resistance level of $40,000 if the bulls put more pressure on the market. Bitcoin Price Prediction: Is $40k Resistance Coming for BTC? As of now, the Bitcoin price is yet to cross above the 9-day and 21-day moving averages, but any further bullish movement above this barrier could locate the potential resistance levels at $45,000, $47,000, and $49,000. Typically, when the new uptrends are coming to the surface, traders may use the moving averages as a pivot resistance point to gauge the strength of the trend. However, if BTC/USD begins to soar towards the upper boundary of the channel, this could be a sign of sustainability and may likely result in a bullish continuation. Moreover, should BTC price fail to move up; traders may see a price cut towards the lower boundary of the channel, and a further low could bring the price to the support levels at $32,000, $30,000, and $28,000 respectively. But as it stands, the Bitcoin price is likely to rise as the technical indicator Relative Strength Index (14) may cross above 50-level. BTC/USD Medium-Term Trend: Ranging (4H Chart) Looking at the 4-hour chart, the market has been following a sideways movement for the past few days as the bulls are trying to come back into the market by defending the $38,000 level. If not, the support level of $35,000 and below may come into play. BTCUSD – 4 Hour Chart However, if the bulls keep the market above the 9-day and 21-day moving averages, traders may expect a retest of $40,000 resistance level, and breaking this level may further push the price towards the resistance level of $42,500 and above as the technical indicator Relative Strength Index (14) remains below 60-level, suggesting sideways movement. 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