Bitcoin Technical Analysis Report 24th March 2025
Bitcoin bulls are making a renewed push, keeping the price above the 200-day simple moving average ($84,899) through the weekend. Ongoing tariff wars have added volatility to both traditional and crypto markets, increasing uncertainty. While Bitcoin faces resistance at the 20-day exponential moving average ($86,246), a positive sign is that buyers are holding firm, preventing significant losses to the bears.
At the time of writing, BTC was trading at $86,350.
After reaching an all-time high of $109,588, BTC began trading within a Descending Triangle pattern, finding strong support at $90,000. Eventually, the asset broke below the pattern, leading to a price drop to $76,606. Following this move, BTC has been consolidating, trading within a range of $80,000 to $87,500 with declining volumes. The asset has strong support at $80,000 and $73,500, while $90,000 and $100,000 remain key resistance levels for the bulls. A confirmed breakout above these resistance levels could trigger a further rally.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2. |
| $73,500 | $80,000 | BTC | $90,000 | $100,000 |
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