Bitcoin (BTC) Key trading levels, The Week Ahead 03rd March ‘25
The recent Bitcoin (BTC) price action suggests a bearish sentiment despite the broader long-term uptrend. The market reached an all-time high of $109,000 on January 20, 2025, before reversing, signalling potential downside risks.
Formation of a Double-Top Reversal Pattern
BTC has formed a double-top pattern, a classic bearish reversal setup.
The critical “neckline” support level at $91,900 was breached, confirming the trend reversal.
A corrective pullback from this level has intensified selling pressure, increasing the likelihood of further downside movement.
Key Support & Resistance Levels
Immediate Resistance: $86,227
Major Resistance Levels:
$89,075
$91,900 (previous neckline, now acting as resistance)
Key Support Levels:
$77,900
$74,900
$72,750 (long-term support)
Bearish Scenario
If BTC fails to sustain a move above $86,227, the price could resume its decline.
A rejection at this level would reinforce downside pressure, targeting $77,900 initially, with extended losses toward $74,900 and $72,750 in a deeper correction.
Bullish Alternative: Breakout Confirmation
A daily close above $86,227 would invalidate the immediate bearish outlook.
A sustained breakout could lead to a rally toward $89,075, followed by a potential retest of the $91,900 neckline resistance.
A confirmed reclaim of $91,900 could shift momentum back to the bulls, opening the door for renewed upside.
Conclusion
BTC’s price action remains bearish in the short-to-medium term, with key resistance at $86,227 dictating the next move. A failure to break higher could reinforce the downtrend, while a confirmed breakout above resistance would shift sentiment bullish. Traders should closely watch these critical levels for confirmation of the next directional move.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Formation of a Double-Top Reversal Pattern
BTC has formed a double-top pattern, a classic bearish reversal setup.
The critical “neckline” support level at $91,900 was breached, confirming the trend reversal.
A corrective pullback from this level has intensified selling pressure, increasing the likelihood of further downside movement.
Key Support & Resistance Levels
Immediate Resistance: $86,227
Major Resistance Levels:
$89,075
$91,900 (previous neckline, now acting as resistance)
Key Support Levels:
$77,900
$74,900
$72,750 (long-term support)
Bearish Scenario
If BTC fails to sustain a move above $86,227, the price could resume its decline.
A rejection at this level would reinforce downside pressure, targeting $77,900 initially, with extended losses toward $74,900 and $72,750 in a deeper correction.
Bullish Alternative: Breakout Confirmation
A daily close above $86,227 would invalidate the immediate bearish outlook.
A sustained breakout could lead to a rally toward $89,075, followed by a potential retest of the $91,900 neckline resistance.
A confirmed reclaim of $91,900 could shift momentum back to the bulls, opening the door for renewed upside.
Conclusion
BTC’s price action remains bearish in the short-to-medium term, with key resistance at $86,227 dictating the next move. A failure to break higher could reinforce the downtrend, while a confirmed breakout above resistance would shift sentiment bullish. Traders should closely watch these critical levels for confirmation of the next directional move.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.