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Bitcoin (BTC) Price Analysis for March 14

Price Predictions
Sun, 03/14/2021 - 14:27
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Denys Serhiichuk
Can buyers hold the $60,000 mark and keep pushing the rate higher?
Bitcoin (BTC) Price Analysis for March 14
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The last day of the week has turned out to be bearish for the cryptocurrency market. All coins from the top 10 list are in the red zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

Meanwhile, the dominance rate of Bitcoin (BTC) has increased over the last few days and is now at 62.1%.

BTC’s market share
BTC's market share

The relevant data for Bitcoin is looking the following way:

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $1,117,288,647,373

  • Price: $59,909.63

  • Volume (24h): $49,572,866,971

  • Change (24h): -0.22%

The data is relevant at press time.

BTC/USD: Can bulls hold the $60,000 mark?

Even though the rate of Bitcoin (BTC) is almost unchanged since yesterday, the price change over the past week is +18%.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) is about to restest the MA 50 that is located in the area around $59,000.

Related
BTC, BNB, ADA, DOT and UNI Price Analysis for March 13

Bulls might show strength there as the selling trading volume remains low.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the bigger time frame, the drop may be even more profound to the nearest mirror level at $58,100 if bulls fail to save the support around $59,000.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

From the long-term perspective, the crucial level is the support at $57,500. There are high chances of seeing a bounceback there due to a high level of focused liquidity.

Bitcoin is trading at $59,900 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.