This week (March 17, 2025 - March 21, 2025), Bitcoin (BTC) has experienced notable fluctuations. Currently, the price of BTC is at 84,198 USD, down 1,799 USD (-2.09%) from the previous closing price. During the day, BTC reached a high of 86,428 USD and a low of 83,601 USD.
Technical Analysis:
• In the 4-hour timeframe, Bitcoin is on an upward trend, with the 50-day moving average sloping upward. However, the 200-day moving average is sloping downward, indicating a downward trend.
• According to analysis from TradingView, the price of Bitcoin is under strong selling pressure, encountering resistance at the downtrend line and the moving averages MA50, MA100. If it cannot break through the level of 91,123.23 USD, it is highly likely that the price will drop to 78,264.86 USD and further down to 75,071.28 USD. Conversely, if it breaks through this resistance, a new upward trend could be activated.
Conclusion:
This week, Bitcoin has undergone certain fluctuations, influenced by technical factors and market sentiment. The upcoming trend of BTC depends on its ability to surpass significant resistance levels and the participation of institutional investors. Investors should closely monitor market developments and influencing factors to make informed investment decisions.