Bitcoin Wave Analysis – 11 March 2025

Bitcoin: ⬆️ Buy
       

• Bitcoin reversed from pivotal support level 78375.00
• Likely to rise to the resistance 85000.00

Bitcoin cryptocurrency recently reversed up from the support area between the pivotal support level 78375.00 (which formed the daily Hammer in February), the support trendline of the daily down channel from January and the lower daily Bollinger Band.

The upward reversal from this support area is expected to form the daily Japanese candlesticks reversal pattern Bullish Engulfing (strong buy signal for Bitcoin).

Given the long-term uptrend, Bitcoin can be expected to rise to the next resistance level 85000.00.

Source: https://fxpro.news