Bitcoin Braces for $60,000 Retest: What Technical Indicators Say About March Outlook
Analysis
Price Impact
HighThe article suggests bitcoin is facing significant selling pressure and could retest the $60,000 level. technical indicators like the 200-day moving average and rsi are signaling a bearish trend, and large buyers' interest is noted in the $52,000-$55,000 range, indicating potential for further downside.
Trustworthiness
MedThe analysis is based on technical indicators (200-day ma, rsi) and observed price action (descending channel, break of support). while these are common analytical tools, future price movements are inherently uncertain, and market sentiment can shift rapidly.
Price Direction
BearishThe breaking of the $68,000 support level, the fall below the 200-day moving average, and the rsi being in the bearish zone all point towards a bearish short-to-medium term outlook, with a potential retest of $60,000 or even lower.
Time Effect
ShortThe article specifically discusses the outlook for march and mentions indicators like the weekly btc/usdt chart and the closing of the current week, suggesting a short-term focus for the analysis.
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Article Content:
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Bitcoin continues to experience serious selling pressure at the end of the first week of March, forcing market participants to prepare for a potential retest of the psychological $60,000 mark. After unsuccessful attempts to hold above the $70,000 level, the technical picture on the chart is beginning to point to the dominance of bearish sentiment. Advertisement Advertisement BTC/USD Chart, Source: TradingView On the current weekly BTC/USDT chart by TradingView , the formation of a descending channel is clearly visible. The key negative event and signal was the break of the $68,000 zone, which previously acted as local support for buyers. Now this level has turned into resistance that currently limits any attempts at a local recovery. Why Bitcoin could break below $60,000 Three main factors can be identified that indicate why a move below $60,000 is now possible as never before: HOT Stories Former Ripple Senior Engineer Breaks Silence on Failed Project Codius, Bitcoin Becomes Green for March, Shiba Inu (SHIB) Max Pain May Be 'Blessing in Disguise' — Morning Crypto Report Bessent Meets Bukele to Talk Crypto The 200-day moving average, below which the BTC price has fallen. This is a classic signal that the medium-term trend is currently bearish. RSI, the relative strength indicator, which is now in the bearish zone, meaning below 40 points. This suggests that the strength of buyers has been exhausted and the potential for further decline still remains. The main interest of large Bitcoin buyers is currently concentrated in the $52,000 to $55,000 range. The market often moves toward such zones to collect liquidity before the start of a new growth cycle. If the current week closes below $65,000, where the 200-day moving averages pass, the probability of a fast squeeze toward $60,000 and even lower will become the dominant scenario. Advertisement You Might Also Like Sun, 03/08/2026 - 11:30 77% of Corporate Bitcoin Holdings Now Underwater, Data Shows By Tomiwabold Olajide The current chart suggests that the bottom of the local correction has not yet been reached. Holding $60,000 for BTC could become the base for a rebound, while a break below it would open the path to a continuation of the extended correction. #Bitcoin Price Prediction #Bitcoin