Bitcoin Range-Bound Above $35K-$37K Support; Resistance at $40K
The sideways price range could result in higher volatility over the next two weeks.
Mar 14, 2022 at 6:19 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/LWW6WHGWKNAKXF3GEHGPHF4KV4.png)
Bitcoin daily price chart shows support/resistance .(Damanick Dantes/CoinDesk, TradingView)
BTC was trading at $38,700 at press time and is roughly flat over the past 24 hours.
The downward sloping 100-day moving average has kept the four-month downtrend intact. Recent sideways trading, however, could result in volatile price swings over the next two weeks.
Buyers will need to hold support above $35,000-$37,000 in order to preserve the long-term uptrend.
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Damanick was a crypto market analyst at CoinDesk where he wrote the daily Market Wrap and provided technical analysis. He is a Chartered Market Technician designation holder and member of the CMT Association. Damanick is also a portfolio strategist and does not invest in digital assets.
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