Bitcoin

Resistance

Daily

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-analysis-key-support-and-resistance-levels-to-watch/" data-wpel-link="internal">Bitcoin Price Analysis: Key Support and Resistance Levels to Watch</a><br></p>
<p class="p1" style="text-align: justify"><strong><a href="https://coin-turk.com/wall-streetten-sok-bitcoin-altin-grafigi" data-wpel-link="internal">Bitcoin</a>,</strong> continues to give the impression of a typical weekend on March 3rd. At the time of writing, <a href="https://en.coin-turk.com/bitcoin-surges-reasons-behind-the-rise-and-expert-insights/" data-wpel-link="internal">Bitcoin</a> is trading at $61,771, experiencing a 0.36% decrease over the last 24 hours. This decline has led to a significant downward momentum in many <a href="https://coin-turk.com/bu-altcoinde-direnc-seviyesi-kirildi-simdi-tokeni-neler-bekliyor" data-wpel-link="internal">altcoins</a>. What can we expect for Bitcoin going forward? Let’s examine together.</p> 
<h2 class="p1" style="text-align: justify" id="bitcoin-daily-chart-analysis">Bitcoin Daily Chart Analysis</h2> 
<p class="p1" style="text-align: justify"><strong>Bitcoin</strong>‘s daily chart shows a rising channel formation that has provided key insights to investors. This pattern led to a breakout at the resistance line on February 28th. Following this breakout, Bitcoin’s price has been consolidating in a narrow range, with a potential support or resistance break determining its direction.</p> 
<p class="p1" style="text-align: justify">The most important support levels to watch on the daily Bitcoin chart are; $60,350 / $59,007, and $56,957 respectively. A daily bar close below the significant support at $59,007 could lead to a loss of momentum in Bitcoin’s price.</p> 
<p class="p1" style="text-align: justify">The most important resistance levels to watch on the daily Bitcoin chart are; $62,190 / $63,743, and $65,540 respectively. A daily bar close above the critical level of $63,743, encountered on February 27 and 28, would likely lead to an increase in Bitcoin’s momentum.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-322351 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-gunluk.png" alt="" width="2319" height="1083"></p> 
<h2 class="p1" style="text-align: justify" id="bitcoin-hourly-chart-analysis">Bitcoin Hourly Chart Analysis</h2> 
<p class="p1" style="text-align: justify">The hourly <strong>Bitcoin</strong> chart features a triangle formation that offers important clues to traders. The recent interactions with support and resistance levels within this formation could signal upcoming trends. A close below the EMA 9 (blue line) in the last bars could suggest a bearish scenario in the short term.</p> 
<p class="p1" style="text-align: justify">The key support levels to monitor on the hourly Bitcoin chart are; $61,563 / $61,087, and $60,630 respectively. A close below the $61,087 level on the hourly chart could indicate a bearish outcome for the triangle formation.</p> 
<p class="p1" style="text-align: justify">The key resistance levels to watch on the hourly Bitcoin chart are; $62,091 / $62,445, and $62,753 respectively. A close above the $62,445 level, which intersects with the formation’s resistance line, could lead to an upward trend and increase Bitcoin’s momentum.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-322350 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-saatlik.png" alt="" width="2396" height="1161"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-price-analysis-key-support-and-resistance-levels-to-watch/" data-wpel-link="internal">Bitcoin Price Analysis: Key Support and Resistance Levels to Watch</a></h5>

Bitcoin Price Analysis: Key Support and Resistance Levels to Watch

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