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BTC analysis – the price fell by up to 19% in a single trading day!

by Margharet Tess
March 28, 2025
in Analysis
Reading Time: 3 mins read
BTC analysis - the price fell by up to 19% in a single trading day!
BTC in correction. Source: Shutterstock.com/Wit Olszewski

BTC finally reached a maximum of $ 53,000 entered into a sharp correction. The price fell by almost one-fifth in a single day, and the decline dragged the altcoin market with it. As a result, the dominance increased slightly, which means that the altcoins fell a little more. However, this is not a big difference. Where will the price go now?

BTC created a low price at $ 42,900, but the close price closed at first support $ 46,500. It is also a support of the previous two-week sideway structure. However, as long as the price continues to rise, another correction is in play. Either v-shape recovery will occur and the price from the market value will go up, or the correction will continue with less force.

BTC / USD 4H.  Source: TradingView
BTC / USD 4H. Source: TradingView

BTC fell directly into oversold

The main support we are monitoring is on the surface $ 42,500 to $ 41,000. Ide o support zone, which separates the accumulation zone from the growing trend. If the price were to test this zone as support and then continue to grow, it would be a strong bull signal. Long-term sentiment or the predictions have not changed yet.

RSI shows that it has fallen from the level of moderate overbought to the limit of oversold, in a brief moment. Such a sharp decline in RSI was not recorded even during the entire May slump. According to the RSI, there is not much room for a sharp correction to continue. The decline is still relevant, but not so much. Volumes they also made several multiple numbers out of nowhere compared to growth.

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Margharet Tess
Margharet Tess
Editor, Developer at Cryptheory Labs
I have been active in the cryptocurrency world for over 6 years, during which I have written countless articles about this sector. What fascinates me most about cryptocurrencies is their technological aspect and the problems they aim to solve. In the past three years, I have ventured into app development and am currently working on a larger project called P2E Buzzer. Stay tuned for the surprise. 🙂 My previous experiences: Business2Community.com, TradingPlatforms.com
Margharet Tess
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