Bitcoin Price Recovers Some Losses—Is a Full Rebound in Sight?

Aayush Jindal

Last Updated: March 12, 2025 2:46 am

2 mins read

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Bitcoin price started a fresh decline below the $86,000 zone. BTC is now correcting losses and might struggle near the $84,000 and $85,000 levels.

Bitcoin started a fresh decline below the $85,000 zone.
The price is trading below $84,000 and the 100 hourly Simple moving average.
There was a break above a key bearish trend line with resistance at $82,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start another decline if it fails to clear the $84,000 resistance zone.

Bitcoin Price Faces Resistance

Bitcoin price started a fresh decline below the $85,000 level. BTC traded below the $82,000 and $80,000 support levels. Finally, the price tested the $76,500 support zone.

A low was formed at $76,818 and the price recently started a recovery wave. There was a move above the $78,000 and $80,000 resistance levels. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $91,060 swing high to the $76,818 low.

There was a break above a key bearish trend line with resistance at $82,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $84,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $83,200 level. The first key resistance is near the $84,000 level.

The 50% Fib retracement level of the downward move from the $91,060 swing high to the $76,818 low is also near $84,000. The next key resistance could be $85,000.

A close above the $85,000 resistance might send the price further higher. In the stated case, the price could rise and test the $86,500 resistance level. Any more gains might send the price toward the $88,000 level or even $96,200.

Another Drop In BTC?

If Bitcoin fails to rise above the $84,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $81,200 level. The first major support is near the $80,000 level.

The next support is now near the $78,000 zone. Any more losses might send the price toward the $76,500 support in the near term. The main support sits at $75,000.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $81,000, followed by $80,000.

Major Resistance Levels – $84,000 and $85,000.

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
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