Bitcoin Price Remains Stable After Crossing The $87,500 mark

The price of Bitcoin (BTC) has continued to rise after rising above the 21-day SMA. The bullish momentum stopped at the $87,500 mark.

Bitcoin price long term prediction: bullish

Currently, Bitcoin is above the 21-day SMA but below the 50-day SMA barrier and the 50-day SMA. The price is currently moving towards the 21-day SMA support after being rejected at the recent high.

The uptrend will continue if Bitcoin retraces and maintains its position above the 21-day SMA. The initial barrier of $87,500 will be breached by the uptrend. The bullish momentum will reach the top of the 50-day SMA.

Bitcoin's uptrend will continue if buyers keep the price above the 50-day SMA. However, if Bitcoin price falls back below the 21-day SMA, it could drop to the $80,000 support. Bitcoin will fall to $76,500 if it breaks the $80,000 support. Today, Bitcoin is worth $85,556 at the time of writing.

Analysis of the Bitcoin price indicators

Bitcoin price has been rising since March 11 after breaking above the 21-day SMA barrier. The price bars are located between the moving average lines until the trend is determined. The price bars on the 4-hour chart are above the moving average lines. Bitcoin's uptrend has stalled at the high of $87,470 as it pulls back to critical support.

Technical indicators

Major supply zones: $108,000, $109,000, $110,000

Major demand zones: $90,000, $80,000, $70,000

What is the next step for Bitcoin?

Bitcoin is still trapped between the daily moving average lines, even though its uptrend has stopped. The 21-day SMA support will dictate Bitcoin's future direction. The uptrend will end if the price falls below the 21-day SMA support. The cryptocurrency price will fall and return to the area above the $80,000 support.

The uptrend will resume if the 21-day SMA support holds.

On March 16, 2025, Coinidol.com reported that the price of Bitcoin has remained above the $80,000 support but below the lines of the moving averages.  

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.