Bitcoin reaches $44K as investors put their bets on $46K resistance zone

Bitcoin price analysis for March 25, 2022, comes on a bullish note for the world’s first cryptocurrency as the token has reclaimed the $44K price level. Now, it is important to note that the nearest resistance for the token is at $46K and the chances of BTC consolidating above $44K seem high. As noted in our BTC price analysis for March 24, 2022, there is a major resistance for BTC in between $46K-$51K.

The data from CoinMarketCap shows that the trading volume of the token surged 16.96% in the last 24 hours, followed by a 2.92% rise in the market cap. Moreover, the Volume / Market Cap has a value of 0.0368, while the Market Dominance has risen slightly to 41.88%. 

The daily candle for the token opened at a price of $43.9K and reached a daily high of $44.3K. On the other hand, the daily low for Bitcoin stands at a price of $43.8K. The price of 1 Bitcoin at the time of writing is $43.9K. 

Bitcoin price analysis for March 25 on the daily chart

Bitcoin price analysis for March 25 will be using 3 of the most crucial indicators placed on the BTC daily chart below to predict the future trajectory for the token.

Source: TradingView

Bitcoin RSI reads a value above 60 which means that the bulls remain in charge of the price action and chances of BTC breaking above $44K remain high. The gradient of the line confirms that higher prices might be witnessed.

The MACD indicator shows that the MACD line remains above the signal line which means that the buying pressure is high.

The price action is testing the upper end of the Bollinger Bands and if BTC breaks above $46K, we will see Bitcoin break out of this region.

Conclusion

Bitcoin price analysis for March 25, 2022, confirms that the token is following a bullish path but needs to break above $46K-$51K resistance to confirm an uptrend.