Bitcoin Breaks Resistance at $25,000, Continued Rise – March 14, 2023.

Bitcoin continues to panic the counters, it rises above $26,000 – On this Tuesday, March 14, the king of cryptocurrencies continues to climb. Operators were awaiting the publication of inflation figures (CPI index) in the United States. The publication gave reason for consensus, inflation drops to 6%. This fueled Bitcoin price soaring above $26,000.

This Bitcoin price analysis is brought to you in collaboration with CryptoTrader and its algorithmic trading solution finally accessible to individuals.


Bitcoin price climbs 7.5% in 24 hours

Today, Bitcoin (BTC) price evolved between $24,000 And $26,400. Another day in the green for the king of cryptocurrencies:

Bitcoin climbs 7.5% in 24 hours.
Performance of Bitcoin against different pairs Source: CoincheckUp

In 24 hours, the BTC shows a 7.5% rise against the dollarand within a week the price is up by 15.5%. In the space of three months, Bitcoin tries to make us forget the bearmarket by posting a rise of 42%. For now, Bitcoin slightly outperforms Ethereum (+2.85% over one month).

Bitcoin price rises, sellers get liquidated

Some market players use theleverage, this kind of practice should be handled with care. Indeed, some leave feathers there, as evidenced by this graph which recovers the liquidation amount :

80 million dollars were liquidated on the day of March 13.
Liquidations on Bitcoin Source: Coinglass

In total, it is no less than $80 million wound up side shorts the day of March 13. Today, the chart shows more or less the same amount. After having spent a complicated year, the bulls are taking revenge!

Bitcoin breaks resistance at $25,000, next resistance at $28,500?

In L’yesterday’s editionthe possibility of a return to $25,000. Bitcoin did better, it broke the resistance :

Bitcoin soars above the resistance at $25,000.
Bitcoin price against the dollar (4H)

Now the next strong resistance is at $28,500. If buyers keep the bracket at $25,000, the Bitcoin price could find this resistance (+14%). Be careful all the same, it is not excluded that buyers take profit, and the price falls below the support. If so, a return to the level of the next rack at $23,900 cannot be excluded. THE ROI is at the level of a resistancein overbought zone. So far, no sign of divergencebut the momentum starts to overheat.

Bitcoin breaks resistance at $25,000, if the buyers push, the price could end up at $28,500. The market liquidates short sellers, nearly $160 million was liquidated in two days on the sell side.

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Last Verdict

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