$BTC
As of March 9, 2025, the price of Bitcoin (BTC) is trading at around $84,823, down $1,265 (-1.47%) from the previous close.
Current Technical Analysis:
Important Technical Levels:
Resistance:
$90,501: A strong resistance level and previous bounce.
$95,603: Major resistance with high liquidity density.
$100,185: A strong psychological level that may attract sellers.
Support:
$88,719: Minor support close to the current price.
$87,976: Strong support; if broken, we may see further declines.
$86,000 - $84,000: Strong buying area according to institutional liquidity.
$79,050 - $77,713: Major support area with high demand.
Overall Trend:
The price has seen a strong rebound from low demand areas at $82,290, where liquidity was found in discount zones.
The current price increase is supported by a breakout from the equilibrium zone, reflecting a bullish corrective move towards strong supply areas.
Future Expectations:
If the price stabilizes above $92,000, it may target levels of $97,000 - $100,000. However, if it loses the support level at $86,000, a decline towards $75,000 - $72,500 becomes likely.
Bitcoin dominance shows volatility between 60% and 61%. It remains above the Kumo cloud, although its movement has become weak and neutral. A decrease in dominance could lead to stronger performance from alternative coins, while an increase may result in better gains for BTC.
