$BTC As of March 11, 2025, Bitcoin (BTC) is trading at approximately $80,250, reflecting a 2.4% decline from the previous close.
Recent technical analyses indicate that Bitcoin has experienced a notable downturn, dropping below key support levels. Investopedia reports that Bitcoin fell below $90,000 last week, continuing its decline from the record high last month amid economic uncertainties. MarketWatch further notes that Bitcoin stumbled below $80,000, marking a significant decline and raising concerns about approaching major support levels.
Technical indicators currently suggest a bearish sentiment:
Moving Averages: Both simple and exponential moving averages across multiple periods (5, 10, 20, 50, 100, and 200) are signaling 'Sell'.
Technical Indicators: Oscillators such as the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and others are also indicating 'Sell' signals.
Key support levels to monitor are $70,000 and $74,000, while resistance levels are around $98,500 and $106,000.
Please note that cryptocurrency markets are highly volatile, and technical analyses are subject to rapid changes. It's essential to consult up-to-date sources and consider multiple factors before making any investment decisions.
