BTC/USD are trading at 38419 and continue to move as part of the fall and the formation of the “Triangle” model. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $732,235,406,365. Moving averages indicate a short-term bearish trend for Bitcoin. Prices broke down the area between the signal lines, which indicates pressure from the sellers of “Digital Gold” and a potential continuation of the fall in the value of the asset already from current levels. As part of the cryptocurrency rate forecast for tomorrow, March 16, 2022, we should expect an attempt to develop a rise in the value of a digital asset and a test of the resistance level near the 40505 area. From where we should again expect a rebound down and an attempt to continue the fall of the Bitcoin rate with a target below the 27145 area.
Bitcoin Forecast BTC/USD March 16, 2022
An additional signal in favor of falling BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal in favor of this option will be a rebound from the upper border of the “Triangle” model. Cancellation of the option of falling in the exchange rate and the cost of Bitcoin will be a strong increase in the value of the asset and a breakdown of the 47505 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin exchange rate with a potential target at the level of 50025. The fall in the asset price will be confirmed by a breakdown of the support area with the price fixing below the level of 33005, which will indicate a breakdown of the lower boundary of the “Triangle” model.
Bitcoin Forecast BTC/USD March 16, 2022 suggests an attempt to test the resistance level near the area of 40505. And further, the cryptocurrency will continue to fall with a potential target at 27145. An additional signal in favor of the Bitcoin price decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the 47505 area. This will indicate a continuation of the rise with a potential target above the 50025 area.
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