2024

Bitcoin

Strong

<div class="finbold">
 <p class="paragraph">Bitcoin (BTC) has lost a supposedly strong <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> by the end of the week, trading below $69,000. Now, cryptocurrency traders look for the next Bitcoin <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> levels to <a rel="noopener noreferrer nofollow" title="watch" href="https://thebittimes.com/tag/watch.html">watch</a> in the charts moving forward.</p>
 <p class="paragraph">Previously, the $69,000 had constituted a significant resistance level for the leading cryptocurrency, marking a cycle’s top in 2021. This price set an all-time high for Bitcoin back then, which was challenged and briefly broken on March 9.</p>
 <p class="paragraph">One week later, BTC retraced below what traders would expect to become a strong support level, raising the possibility that its previous breakout was actually a deviation—or what is known as a “false breakout.”</p>
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   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <h2 class="wp-block-heading" id="h-bitcoin-s-support-and-resistance-levels">Bitcoin’s support and resistance levels</h2>
 <p class="paragraph">In this context, the expert trader <em>Ali Martinez</em> shared what he believes is Bitcoin’s next support and resistance levels.</p>
 <p class="paragraph">Particularly, mentioning the $64,750 to $66,700 range as a first support zone, followed by the range between $60,760 and $62,790, if the first one is lost. On the other hand, Martinez considers the $70,180 to $71,340 range as Bitcoin’s current resistance level.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Bitcoin has established a solid support range between $64,750 and $66,700, where 382,000 addresses hold more than 275,000 $BTC. Monitoring this level closely is crucial, as losing it could shift the focus to the next significant demand zone between $60,760 and $62,790, safeguarded by 797,500 addresses with over 298,000 BTC.</p>
  <p class="paragraph">Conversely, Bitcoin faces tough resistance between $70,180 and $71,340. This barrier is fortified by 533,300 addresses, collectively holding 433,000 BTC.”</p> <cite>– <em>Ali Martinez</em> (<em>@ali_charts on X</em>)</cite>
 </blockquote>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="345" src="https://cdn.thebittimes.com/images/2024/03/16/02e7893c44cd15b7c4df9d1abfdec36c.webp" alt class="wp-image-161573" srcset="https://cdn.thebittimes.com/images/2024/03/16/02e7893c44cd15b7c4df9d1abfdec36c.webp 1024w, https://cdn.thebittimes.com/images/2024/03/16/02e7893c44cd15b7c4df9d1abfdec36c.webp 300w, https://cdn.thebittimes.com/images/2024/03/16/02e7893c44cd15b7c4df9d1abfdec36c.webp 768w, https://cdn.thebittimes.com/images/2024/03/16/02e7893c44cd15b7c4df9d1abfdec36c.webp 1536w, https://cdn.thebittimes.com/images/2024/03/16/02e7893c44cd15b7c4df9d1abfdec36c.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin support and resistance levels. Source: <em>Ali Martinez</em> (<em>@ali_charts on X</em>)&nbsp;
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="btc-price-analysis">BTC price analysis</h2>
 <p class="paragraph">As of writing, Bitcoin price was trading at $67,884, below 2021’s all-time high, after what could have been a deviation above.</p>
 <p class="paragraph">Interestingly, BTC is also above <em>Ali Martinez’s</em> first <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> level at $64,750-$66,700. Breaking this region would lead Bitcoin to crash toward the next zone of $60,760-$62,790. Together, both have over 1 million addresses of holders with interest in these ranges.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/03/16/2232eab518990452dd738cd6ffd797c5.webp" alt class="wp-image-161574" srcset="https://cdn.thebittimes.com/images/2024/03/16/2232eab518990452dd738cd6ffd797c5.webp 1024w, https://cdn.thebittimes.com/images/2024/03/16/2232eab518990452dd738cd6ffd797c5.webp 300w, https://cdn.thebittimes.com/images/2024/03/16/2232eab518990452dd738cd6ffd797c5.webp 768w, https://cdn.thebittimes.com/images/2024/03/16/2232eab518990452dd738cd6ffd797c5.webp 1536w, https://cdn.thebittimes.com/images/2024/03/16/2232eab518990452dd738cd6ffd797c5.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BTC/USD daily chart. Source: <em>TradingView</em> (Finbold)
  </figcaption>
 </figure>
 <p class="paragraph">In the meantime, investors must trade carefully and properly evaluate the risk-reward in each Bitcoin’s <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> and resistance level now. Cryptocurrencies are highly volatile and unpredictable assets, requiring proper risk management and solid strategies to navigate.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/strong-bitcoin-price-support-to-watch-for-next-week-tbt82717.html">https://thebittimes.com/strong-bitcoin-price-support-to-watch-for-next-week-tbt82717.html</a></p>

Strong Bitcoin price support to watch for next week

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