It, then, becomes intuitively evident that this price region might be a key level acting as resistance to Bitcoin’s bullish attempts. Below are some other crucial levels to watch for in March and what they could potentially mean for the Bitcoin price.
BTC Realized Price Sits At $54,600 – What This MeansTo start with, Kesmeci immediately revealed Bitcoin’s surest support price — the realized price — to be around the $54,600 mark. The realized price is a strong support region because it reflects the average cost basis of all the BTC in circulation.
While the Bitcoin price may be displaying its higher timeframe backing, it is also true that the world’s leading cryptocurrency has a series of battles to fight as it ascends. According to the crypto pundit, four resistance zones lie in wait to reject possible upward recovery.
When the Bitcoin price trades beneath this level, it signals that the latest participants are under severe heat. Hence, recovery attempts towards this price level would typically be met with significant resistance, as this cohort would want to exit at break-even.
The analyst further highlighted that the Short-Term Holder Realized Price (STH RP) is around $90,800; this concerns investors who have held BTC for less than 155 days. If the Bitcoin price manages to overcome the evident resistance at this level, it could signal a change in Bitcoin’s trend from bearish to bullish.
Beyond the STH RP, the 365-day Simple Moving Average sits, occupying the $98,900 price level; then, a little more up North, the 3–6 Month Realized Price stands around $100,800. These metrics reflect the activity of Bitcoin’s medium-term holders, showing their realized price and average closing prices over the past year.
