Bitcoin Price Analysis of March 7, 2025: Bitcoin Crashed Below $88,000 Support Level, Can It Recover?

Are you considering an investment in BTC price today and wondering how it’s performing? Bitcoin price analysis shows a mix of a downward channel, a potential breakdown, and an upward trend, but what comes next? Will BTC reclaim its previous trading range, or is another drop on the horizon? If you’re looking for insights into the market’s next move, let’s dive into the latest Bitcoin price prediction and key levels to watch.

Bitcoin Resistance at $92,812.38 Holds Strong as Downtrend Continues

The trading day of March 6th opened with a death cross on the MACD line at midnight, triggering a downward move. However, at 1:25 UTC, a golden cross emerged, suggesting an upward trend. By 1:45 UTC, the RSI shows an overbought, reinforcing the price surge. This upward momentum continued, with further overbought signals at 4:50 UTC and 5:50 UTC, as the price fluctuated within an ascending order. The resistance level was established at $92,812.38. At 6:00 UTC, the MACD line formed another death cross, shifting the momentum downward. 

Chart 1, Analyzed by ShwetaCW, published on TradingView, March 7, 2025

The RSI indicated overbought conditions at 8:00 UTC and 9:05 UTC, yet the price exhibited sharp fluctuations within a downward trajectory. The price remained in a moderately constrained range before the MACD line displayed a golden cross at 14:40 UTC, causing the price to climb again. However, persistent oversold conditions at 17:00 UTC, 17:35 UTC, and 17:45 UTC prevented sustained recovery, pushing the price downward to a support level of $87,837.89. 

Despite this decline, another golden cross on the MACD line at 18:00 UTC hinted at a potential upward trend. The price reacted accordingly, rising and reaching an overbought zone at 22:00 UTC. However, the rally was cut short when a death cross appeared at 23:05 UTC, leading to another downward shift to close the trading day.

Bitcoin on March 7 – Fakeout or Breakdown? Key Support at $84,678.06

The trading day of March 7th began with a moderate trading range, but the price dipped below the established support level due to the previous day’s death cross. This decline signaled a potential breakdown. At 00:50 UTC, the RSI indicator showed an oversold, pushing the price down to $84,678.06. However, at 1:50 UTC, a golden cross appeared on the MACD line, suggesting a possible upward movement toward the previous support level. The price is currently struggling at this level, and the earlier breakdown might have been a fakeout, depending on the next move. By 4:15 UTC, another golden cross emerged, initiating an upward trend. This signal indicates a potential recovery, with the price likely moving back toward the previous trading range. The upcoming hours will determine whether this upward momentum holds.

Bitcoin Price Prediction

In this Bitcoin price analysis, the past 24 hours saw a downward channel, a potential breakdown, and an upward trend. If the bullish momentum continues, BTC price today could re-enter its previous trading range between $87,837.89 and $92,812.38. A breakout above $92,812.38 could push prices higher, signaling strong buying pressure. However, if the price fails to hold above $87,837.89, another breakdown could occur. Bitcoin price prediction suggests traders should watch key levels closely to determine Bitcoin’s next move in this volatile marke.