Bitcoin (BTC) Price Prediction: BTC/USD Hovers Above the $60,000 Psychological Price Level, Poises for Upward Move Soon
Bitcoin (BTC) Price Prediction – March 14, 2021
Today, BTC/USD price has rallied to $61,699 high but pulled back to $59,448 low. The market has resumed upward move to the previous high. Bitcoin is likely to revisit the $62,000 resistance zone. For the past 48 hours, the bears have not been able to push the coin to the $58,000 support
Resistance Levels: $58,000, $59,000, $60,000
Support Levels: $40,000, $39,000, $38,000
Bitcoin’s upward move has resumed as the market corrects upward. The king coin retraced and found support above $59,448 as the market resume upside momentum. The bulls are likely to revisit the $62,000 resistance zone. On the upside, if the current uptrend breaks the resistance zone, Bitcoin will rally above $72,000 high. However, if the bulls fail to break the recent high, BTC price will pullback and resume a sideways move. Meanwhile, the RSI and the daily stochastic have indicated that BTC price is still in the overbought region of the market. A further upward move is doubtful.
Binance Crypto Exchange Launches Payments App in Alpha
Binance is one of the world’s largest cryptocurrency exchanges. It has expanded into the payments sector. Also, it has released its payments app, Binance Pay, in public alpha. The app is a contactless peer-to-peer cryptocurrency payment feature that allows users to send and receive payments in cryptos like Bitcoin. According to Binance, the new service is not limited to certain jurisdictions and it is “currently available to all eligible users on Binance.com.” To get started with Binance Pay, users need to sign up on Binance and complete their identity verification.
“Users need to go to the Pay function on their Binance app to initiate the Pay account to start using the service. Once activated, users can fund their Pay wallet by moving funds from the spot wallet,” the representative explained. For instance, Binance Pay accommodates more than 30 cryptocurrencies including Bitcoin, Ethereum, Binance Coin, and supports five fiat currencies including the euro, British pound, Australian dollar, Brazilian real, and Turkish lira.
Bitcoin price is still hovering above $60,000 after breaking the crucial resistance at $58,000. Bitcoin is likely to resume upside momentum. On February 20 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Bitcoin will rise to level 1.618 Fibonacci extensions or the high of $75,742.0.
