The Bitcoin price closed the past week on a positive note and will be hoping to start the new week on an even stronger foot. However, sideways movement has been a constant feature in the weekend price action of Bitcoin so far in 2025.
Similarly, the flagship cryptocurrency has struggled to build on Friday’s momentum, recording no significant change in the past day. A market analytics firm MoreCryptoOnline has identified specific price levels that might be crucial to the future price trajectory of BTC.
Here’s Why Bitcoin Must Break Resistance At $86,700
In a March 15 post on the X platform, MoreCryptoOnline shared an interesting Bitcoin price analysis, identifying the important levels for potential short-term movements. In the past week, Bitcoin produced a rather choppy price movement characterized by a series of gains and losses of almost similar margins.
Most notably, the premier cryptocurrency broke above the week’s high of $84,294 to reclaim the $85,000 price level. However, bullish momentum proved unsustainable, as selling pressure quickly triggered an immediate retracement.
Source: @Morecryptoonl/X
As shown in the chart above, MoreCryptoOnline expects that if the Bitcoin price manages a successful close above the specified supply barriers, a surge to $89,012 could be on the cards. This move would likely be followed by a minor pullback to $87,204 before the Bitcoin price finally returns to around $92,017.
On the flip side, the next most important support for the BTC price lies around the $82,564 region. If the market leader slips below this price cushion, investors could effectively conclude that the recent price breakout was a failure.
In this case, overwhelming selling pressure could force the price of Bitcoin to around $77,859, with the risk of falling to as low as $71,011.
Bitcoin Price At A Glance
As of this writing, Bitcoin is priced at around $84,050, reflecting no significant movement in the past 24 hours. According to data from CoinGecko, the premier cryptocurrency is down by over 2% in the last seven days. With a market cap of $1.67 trillion, BTC remains the world’s largest cryptocurrency.
The price of BTC is hovering around the $84,000 mark on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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