- Bitcoin is steadily increasing its $83K level above the $83K level to make consistent progress towards its ultimate resistance level.
- A series of consecutive, strong bullish candles highlights unrelenting market demand and ongoing buyer control without observing minimal or sales pressure.
- Momentum metrics such as Construction RSI and bullish MACD crossovers continue to show the potential for accelerating rise, based on increased purchasing momentum and increased market confidence.
Bitcoin is currently trading at $87,999 on Binance, showing a steady bullish momentum. Price Action confirms a recovery of nearly $78,000 from its March low. A breakout above the $83,000 resistance will further support the continued upward movement.
Technical chart insights from TradingView
Bitcoin prices show consistent bullish candles between March 17th and March 25th. Prices are over $83,000 with small body candles and minimal sales pressure. Volume indicators reveal an increase in participation and strengthen bullish confidence.
sauce: TradingView
The RSI stands at 53.65, reflecting moderate bullish momentum with room for upward movement. The MACD shows a bullish crossover supported by the rise of the green histogram bar. The candlestick pattern forms a higher low, indicating sustained demand with controlled price expansion.
The price approaches the $91,300 resistance level marked on the chart. This level represents previous rejection points from January and February. The $83,000-$88,000 breakout zone now serves as a support for even more upside.
Key resistance and market analyst forecasts
According to Crypnuevo, $91,300 stands as a major level of resistance in the current market structure. This coincides with the rejection zone seen during the January and February trading period. A confirmed break above this level can lead to bullish continuation.
Crypnuevo reports strong purchase pressure following a week’s 50 EMA bounce. A support zone ranging from $78,000 to $83,000 served as a storage area. He also points out a minimal downward revision to ensure buyers maintain control.
sauce: Crypnuevo
Additional insights from Crypnuevo show a stable upward momentum supported by a clear bull market structure. The recent short candle wick reflects controlled purchasing pressure with little rejection. The market is currently focused on pushing towards a higher level to break the $91,300 resistance.
Bitcoin is built on a strong bullish momentum backed by sustained, rising trading volumes. Buyers have shown advantages across key support zones, steadily pushing price action towards a $91,300 resistance level.
According to Crypnuevo, the overall market structure is firmly bullish and supports further price increases as technological indicators, positive sentiment and strong accumulation conditions remain favorable to the ongoing upward movement.
