At least one backup program that I've used for years, does not like to have its Backup Image Files moved. For some undocumented reason, if you move a backup Image File, it won't work any more.
Is there anything keeping you from simply making a new Backup Image and putting it where you want it to be (permanently).
Rarely, have I ever had a situation, where I could only save one backup image file to a particular location. But when I did, I would simply delete the old Image file before creating a new one.
It looks like your Backup Image file is awfully
BIG! Unless, you're saving an awful lot of pictures or videos to your C: drive.
Something I always do, before backing up my C: drive, is to give it a very thorough cleaning. I first remove every file that is not required to be there. I even clean and defrag my registry, to make it as small as possible.
Then when I run my backup program from a boot disk, I have the ability to delete all the old Restore Points, Pagefile, and Swapfile. That prevents all those BIG files from being added to my Backup Image File. I also use FAST Compression of the Backup Image.
So the result is that my Backup Image is much smaller than the size of my normal C: partition.
If your backup program can't do that, then you should use a different backup program.
So rather than trying to move your backup file to a new location, why not just make a new backup file, to that location?
Good Luck,
TechnoMage