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Bitcoin (BTC) Price Prediction for March 13
The rate of Bitcoin (BTC) has declined by 0.54% over the last 24 hours. According to recent market trends and analyses, it appears that the cryptocurrency is near a critical juncture.
As seen on the hourly chart, the price of BTC is hovering near the local support level of $81,596. If this support level fails to hold, we may witness a decline towards the nearby area of $81,000.
In the short-term perspective, it seems that sellers have taken control of the market, causing the cryptocurrency’s rate to drop. However, a sudden change in market sentiment could lead to a rebound and push the price back above the local resistance at $84,007.
From a midterm point of view, investors should focus on the weekly bar closure as regards the nearest level of $78,197. In the event that this closure occurs far from that level, there is a possibility that we may witness a local bounce back to the range spanning $84,000-$88,000.
As of now, Bitcoin’s price remains at $81,553.
Source: https://u.today/bitcoin-btc-price-prediction-for-march-13
