Published: Mar 22, 2025 at 03:45 AM
Updated: Mar 22, 2025 at 12:35 AM
- Bitcoin regains the $84K–$85.9K range, trading over big support as bulls eye a breakout.
- Resistance at $90,661.39 remains relevant, with the breakout targeting the $92K–$95K range.
- A fall below $84K would turn momentum bearish, revealing support at $76,552.07 and $72,750.05.
Bitcoin was able to reclaim the $84,000–$85,900 support area, also the 200-day exponential moving average (EMA) on the daily chart. The move is a sign of a potential momentum reversal towards the upper resistance levels, influencing the direction of the market as a whole.
Bitcoin has stabilized above key support, with buyers maintaining control over the $84,000 threshold. A breakout beyond the next resistance levels could push the price toward new highs, while failure to sustain this range may lead to renewed selling pressure.
A closer look by Crypto Candy displays Bitcoin’s successful retaking of the $84,000–$85,900 zone after multiple attempts. Bitcoin Price now stands at $85,703.44, a 1.32% daily decline. The 200-day EMA provides dynamic support, while the 50-day moving average provides near-term resistance. Taking out this zone decisively could set the stage for Bitcoin to challenge the $92,000–$95,000 resistance zone.
Source: Crypto Candy
To the upside, Bitcoin’s immediate resistance is at $90,661.39, with further resistances at $92,047.46 and $94,989.10. Crypto Candy states this zone is a critical bull momentum test and a breakout could propel prices to $106,047.70 and $109,537.45. Conversely, rejection at current resistance levels could see price return towards key supports at $85,540.13 and $84,041.75, with further declines targeting $76,552.07 and $72,750.05.
The market structure shows that Bitcoin is consolidating, and the price is fluctuating between resistance and support levels. Buyers are having a hard time maintaining control, and the presence of selling pressure at key resistance levels may decide future price direction.
Crypto Candy points to the ability of Bitcoin to maintain itself above the reclaimed level, supporting a bull inclination. If the price continues to hold above $84,000, the market could see further upward momentum. However, a drop below this would invalidate the current bullish trend, redirecting sentiment once more to bearishness.
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