{"id":285282,"date":"2021-03-16T23:36:03","date_gmt":"2021-03-17T03:36:03","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=285282"},"modified":"2021-03-16T23:44:33","modified_gmt":"2021-03-17T03:44:33","slug":"bitcoin-btc-price-prediction-btc-usd-risks-fresh-decline-if-it-fails-to-jump-over-the-hurdle-at-57000-and-58000","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-btc-price-prediction-btc-usd-risks-fresh-decline-if-it-fails-to-jump-over-the-hurdle-at-57000-and-58000","title":{"rendered":"Bitcoin (BTC) Price Prediction: BTC\/USD Risks Fresh Decline if It Fails To Jump Over the Hurdles at $57,000 and $58,000"},"content":{"rendered":"\r\n

Bitcoin (BTC) Price Prediction \u2013 March 16, 2021<\/strong>
Today, BTC\/USD<\/a> price retraced to $54,000 low and resumed upward. The brief uptrend was interrupted at the $57,000 resistance zone. In early March, the resistances at $57,000 and $58,000 were the major resistance to break before the price rise to the $60,000 psychological price level. A break above these levels will catapult the coin above the $60,000 high.

Resistance Levels<\/strong>: $58,000, $59,000, $60,000
Support Levels:<\/strong> $40,000, $39,000, $38,000<\/p>\r\n

\"\"<\/a>
BTC\/USD – Daily Chart<\/figcaption><\/figure>\r\n

From every indication, the bullish scenario will have to be repeated for the resumption of the uptrend. As the bears pushed the BTC price to $54,000 low, the bulls have an uphill task to sustain the bullish momentum above the $58,000 high. Once the BTC price is above the $58,000 high, a rally to $60,000 is likely. As soon as Bitcoin recovers the psychological price level, the next target price will be the $75,000 price level. However, if the bulls fail to sustain above the $58,000 high, it indicates that sellers are defending the higher price levels. Also, it means that Bitcoin will continue the downward correction. Meanwhile, BTC is trading at $55,991 at the time of writing.

Bitcoin Is Now Worth More Than Visa and MasterCard Combined<\/strong>
Bitcoin (BTC) is worth more than the world\u2019s three biggest banks combined by market capitalization, data confirms. Bitcoin\u2019s market capitalization was roughly $1.15 trillion. The combined market cap of JPMorgan Chase, Bank of America, and the Industrial and Commercial Bank of China is $1.08 trillion. The biggest payment networks Visa and Mastercard, have a combined market cap of $871 billion, which is less than Bitcoin. Its ascent, others have noted, is impressive, Bitcoin went from zero to $1 trillion in network value 3.6 times faster than Microsoft.<\/p>\r\n

\"\"<\/a>
BTC\/USD – Weekly Chart<\/figcaption><\/figure>\r\n

Bitcoin price has fallen below $60.000 but there are indications of a fresh upward move. On February 21 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Bitcoin will rise to level 1.618 Fibonacci extensions or the high of $75,732.30.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 March 16, 2021Today, BTC\/USD price retraced to $54,000 low and resumed upward. The brief uptrend was interrupted at the $57,000 […]<\/a><\/div>","protected":false},"author":1742,"featured_media":285388,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7812,8009],"class_list":["post-285282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btc-usd","tag-price-prediction"],"acf":[],"yoast_head":"\nBitcoin (BTC) Price Prediction: BTC\/USD Risks Fresh Decline if It Fails To Jump Over the Hurdles at $57,000 and $58,000<\/title>\n<meta name=\"description\" content=\"Today, BTC price retraced to $54,000 low and resumed upward\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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