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Bitcoin (BTC) Price Prediction for March 19

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Tue, 19/03/2024 - 17:15
Bitcoin (BTC) Price Prediction for March 19
Cover image via www.tradingview.com

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Bears are keeping the pressure on, according to CoinStats.

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BTC chart by CoinStats

BTC/USD

The rate of Bitcoin (BTC) has declined by almost 6% over the last 24 hours.

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Image by TradingView

On the hourly chart, the price of BTC is trading near the support of $62,443. 

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If the daily bar closes near that mark, traders may expect a breakout, followed by a further drop to $62,000 and below.

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Image by TradingView

On the daily time frame, the candle is about to close near it. If that happens, the correction may continue to the $58,000-$60,000 zone until the end of the week.

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Image by TradingView

From the midterm point of view, the rate of the main crypto is falling after a false breakout of the $70,184 level. If the weekly bar closes below $65,000, there is a possibility to see a test of the $55,000 area next month.

Bitcoin is trading at $62,600 at press time.

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