Bitcoin price closed the past week on a positive note

The Bitcoin price closed the past week on a positive note and will be hoping to start the new week on an even stronger foot. However, sideways movement has been a constant feature in the weekend price action of Bitcoin so far in 2025.

Bitcoin (BTC) closed the past week on a positive note and will be hoping to start the new week on an even stronger foot. However, sideways movement has been a constant feature in the weekend price action of Bitcoin so far in 2025.

Similarly, the flagship cryptocurrency has struggled to build on Friday’s momentum, recording no significant change in the past day. A market analytics firm MoreCryptoOnline has identified specific price levels that might be crucial to the future price trajectory of BTC.

Here’s Why Bitcoin Must Break Resistance At $86,700

In a March 15 post on the X platform, MoreCryptoOnline shared an interesting Bitcoin price analysis, identifying the important levels for potential short-term movements. In the past week, Bitcoin produced a rather choppy price movement characterized by a series of gains and losses of almost similar margins.

In this case, overwhelming selling pressure could force the price of Bitcoin to around $77,859, with the risk of falling to as low as $71,011.

However, if the bulls manage to push the price of BTC above the Fib R8 at $86,700, the next level to watch on the upside is the Fib R5 at $99,400. A break above this level could open the door for a move to the Fib R3 at $112,100 or even higher.

MoreCryptoOnline noted that the crypto market is currently in a bull market, but the strong resistance at the Fib R8 could lead to a period of consolidation. This would give the bears a chance to push the price of Bitcoin lower, with the aim of reaching the Fib R6 at $79,611.

Bitcoin (BTC) price chart for the week of March 15, 2025, showing the crucial levels to watch in the short term. Credit: MoreCryptoOnline

On the other hand, if the bulls remain in control, they could push the price of Bitcoin to new all-time highs of around $125,000 by the end of the year 2025. This would be a significant achievement for the cryptocurrency, which has already come a long way from its lows of earlier this year.

"It is important to note that these are just technical analysis and do not necessarily reflect the views of MoreCryptoOnline. The cryptocurrency market is volatile and unpredictable, and investors should always do their own research before making any investment decisions," the post concludes.

Bitcoin has struggled to break out of the $80,000 to $88,000 range in recent weeks, but a move above the Fib R8 at $86,700 could be the key to unlocking further gains. With the crypto market currently in a bull market, the door is open for Bitcoin to make a run for new all-time highs in 2025.