CandleFocus Bitcoin’s Bullish Momentum Faces Key Resistance at $85,000 and Support at $61,000
2025-03-11
Author: Content Editor
Bitcoin's price has dropped to around $79,475.14, which is a critical level according to the Bollinger Bands chart. This is seen as a possible support zone and could determine Bitcoin's short-term outlook. The recent behavior near this level will determine if Bitcoin remains supported and moves upward. The market is currently in a period of consolidation, with the price fluctuating between $60,000 and $85,000. It is expected that this consolidation will continue for the next few months, with the price potentially staying between $79,000 and $85,000. However, if a breakout occurs, upward momentum is expected and the price may reach around $87,000. On the other hand, if there is rejection from resistance, a retracement to around $75,000 is possible.
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