Bitcoin BTC/USD completes the trading week at 58241, continues to move within the growth and upward channel. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from the buyers of the asset and the potential continued growth of the asset’s quotes. At the moment, we should expect an attempt to develop a correction and test the support area near the level of 50065. Where can we expect a rebound and continued growth in the Bitcoin exchange rate with a potential target above the level of 65655.
Bitcoin Forecast and Analysis March 22 — 26, 2021
An additional signal in favor of raising the BTC/USD quotes in the current trading week, the week March 22 — 26, 2021 will be a rebound from the lower border of the ascending channel. The second signal will be a rebound from the support line on the indicator relative to the strength (RSI). Cancellation of the Bitcoin growth option will be a fall and a breakdown of the 44055 area. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below the level of 35605. Confirmation of the development of an upward trend will be a breakdown of the resistance area and closing of quotes above the level of 63505.
Bitcoin Forecast and Analysis March 22 — 26, 2021 assumes an attempt to support the support area near the level of 50065. Then, the cryptocurrency will continue to grow to the area above the level of 65655. An additional signal in favor of the rise in the Bitcoin rate in the current trading week will be a test of the support line on the relative strength. Cancellation of the growth option for Bitcoin cryptocurrency quotes will be a fall and a breakdown of the 44055 area. In this case, we should expect a continued decline with a target at 35605.
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