BTC/USD are trading at 41011 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 $774,771,861,561. Moving averages indicate a short-term bearish trend for Bitcoin. Prices have broken through the area between the signal lines, which indicates pressure from buyers of Digital Gold and a potential continuation of the fall in the value of the asset from current levels. As part of the cryptocurrency rate forecast for tomorrow, March 18, 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 42805 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 31505 area.
Bitcoin Forecast BTC/USD March 18, 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 pattern. 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 area of 47405. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at the level of 50205. which will indicate a breakdown of the lower boundary of the “Triangle” model.
Bitcoin Forecast BTC/USD March 18, 2022 suggests an attempt to test the resistance level near the area of 42805. And further, the cryptocurrency will continue to fall with a potential target at 31505. An additional signal in favor of the Bitcoin rate 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 47405 area. This will indicate a continuation of the rise with a potential target above the 50205 area.
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