Bitcoin is now trading in sideways range that is getting tighter and tighter. The 1-hour chart is showing a very clear triangle formation. This type of pattern usually indicates a building up of pressure in the market, which usually resolves itself with a very violent break. As of now, there really aren’t any technical signs as to which way the market is likely to break.
As I mentioned in my last Bitcoin technical analysis article: the price band between $385-$390 is one giant resistance zone. The $385 area has been used several times as support/resistance in the past three days, so this level might provide some support in the event of another break down.
The market is currently trading at a very critical juncture and it might be wise to wait for a break above $410, for trend continuation, or a drop bellow $380, for a confirmation of a market reversal.
Disclaimer: This is not trading/investment advice!
Image Source: 1
Chart source: https://www.okcoin.com
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
In the constantly changing realm of digital currency, the whales—the very large wallets controlled by…
Ethereum's recent price movement reveals a lack of strong support around its current price level.…
Once again, Bitcoin has shown its resilience and potential for price stability, even when the…
A prominent indexing-focused service has debuted a decentralized protocol, thereby fulfilling a commitment it made…
In the rapidly changing universe of cryptocurrencies, token unlocks are events that can profoundly impact…
A fresh examination conducted by CoinGecko and released on March 7, 2025, has emphasized Bitcoin's…
![](data:image/svg+xml;charset=utf-8,<svg height="474px" width="1024px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="475px" width="1024px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
