Bitcoin (BTC) price has struggled in the past few weeks as it cannot rally past the region of $28,000 to a high of $30,000 to $32,000 as the chart for BTC price continues to indicate low volatility in the past few days.
The price of BTC so far this year has been encouraging considering how tough the bear market has been for many crypto projects, including the likes of Binance Coin, Ethereum, and Polygon Matic have dropped by over 60% with the price of BTC seeing the most shock in price decline to a yearly low of $15,000 before bouncing off that region.
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Bitcoin price is yet to determine its next price action as the price of BTC continues in its range movement as many traders and investors believe a retest of $25,0000 is an ideal buy for BTC.
BTC Price For March 2023
The price of BTC spent a major part of march 2023 at a region of $23,500-$25,000 as the price struggled to break past the region of $25,000, acting as a strong resistance for BTC price in the past few months. The price broke and closed above $25,000 as BTC’s price showed strength to a high of $28,000.
Bitcoin Price To Buy Now
The price of Bitcoin has struggled to overcome the region of $28,000 as the price could retest a region of $25,000, acting as a good support region. Buying around $25,000 would be good short-term as the price could rally to a high of $32,000.
Bitcoin Price With Moving Averages
BTC price trades above the 50 and 200 Exponential Moving Averages (EMA) as the prices of $25,000 and $23,000 correspond to these values acting as support for the price of BTC.
A break below these regions could signal the bears taking over the price of BTC, as this is key for bulls to continue their uptrend price movement.
BTC Price For 2025
Bitcoin price has a high chance of doing extremely well after its halving, which is coming up in May 2024, as past Bitcoin history prices have shown a rally of over 300% in the past BTC price movement after each halving. With the next halving approaching, BTC could do well in 2025.
Image from coinspeaker | chart from Tragingview
