This website uses cookies to ensure you get the best experience on our website
CRYPTOALTUM IS EVOLVING! EXCITING CHANGES COMING SOON 

Technical Analysis for BTCUSD for 14th March 2022

Bitcoin in Range, will BTC Hold above $38.5k?



The Bitcoin Lightning Network's capacity is at all-time highs.


Past Performance of BTC

BTCUSDT is within a stubborn trade range when viewed from higher time frames. BTC has been consolidating inside a $2k range as defined by the March 11 bear bar in the last two days alone. There is no clear trend though the higher highs of the past six to seven weeks hint of strength which is yet to be confirmed. As per this formation, risk-averse traders must wait for a strong close above $42.5k and $45k before loading on dips towards $50k.


Bitcoin Technical Analysis

Bitcoin's performance is uneventful. At present, the immediate support is evident at around $38.5k flashing with the March 9 bull bar. However, the immediate support is at the trend line and $36.5k. If prices recover from spot rates, closing above $42.5k and reclaiming March 9's highs, BTC could soar to $45k as traders load the dips. Conversely, a high volume dip below the support trend line and $36.5k would signal weakness.


What to Expect of BTC

Bitcoin's adoption rate is a net positive for prices, accelerating the development of various use cases. However, until there is a sharp close above $45k, price action is skewed for sellers.


Resistance level to watch: $42.5k

Support level to watch: $38.5k


Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.


Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020