BTC Price Prediction: Bitcoin Price Breaks Above $25000 Monthly Resistance; Is $30000 Next?

14 Mar, 2023

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From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

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BTC Price Prediction: Amid the US Bank crisis, the crypto market is witnessed a significant inflow as investors withdraw their Funds from banks and stablecoins. As a result, the Bitcoin price is rising for four consecutive days and has breached the monthly resistance of $25000-$25200. Here’s how this breakout may further influence BTC’s new future price.

Key Points:

Bitcoin Fear & Greed Index at 56% indicates the Greed market’s sentiment which is a positive attitude for bullish growth.
A bullish breakout from $25000 encourages BTC price for an 8.5% upswing
The intraday trading volume in Bitcoin is $43.2 Billion, indicating a 92% gain.

Source-Tradingview

On March 11th, the Bitcoin price rebounded from local support of $19600 and triggered a minor relief rally. However, this short recovery turned to perpendicular growth as the US Fed is likely to ease on the interest rate hike program concerning the US Bank crisis.

Over the last four days, the BTC price has rallied 32% and has most recently breached the monthly resistance of $25000-$25200. This bullish rally backed by significant growth in volume activity indicates a sustained recovery in the market.

Also Read: What Are Bitcoin Ordinals And How Do They Work?

Thus, a massive breakout from the $25200 resistance should offer buyers a suitable footing to further encourage the bullish rally. Anyhow, the traders can expect a minor consolidation above $25200 to check price stability above the newly reclaimed levels.

With sustained buying, the BTC price may rise 8.5% high to hit the $28000 resistance, followed by $31755.

Technical indicator

RSI: The daily RSI slope rose back above the midline indicating the market sentiment is improving.

EMAs: with the recent price, the BTC price reclaimed crucial EMAs(20, 50, 100, and 200) offering an additional edge in the buyer’s favor.

Bitcoin Price Intraday Levels

Spot rate: $25893
Trend: Bullish
Volatility: Low
Resistance levels- $28000 and $31750
Support levels- $25000 and $23800

Investment disclaimer: The content reflects the author's personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.