BTC/USD are trading at 42241 and continue to move as part of the correction and the formation of the “Triangle” model. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $782,097,802,213. 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 forecast for the cryptocurrency rate for tomorrow, March 23, 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 43695 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 29505 area.
Bitcoin Forecast BTC/USD March 23, 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 49005. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at 54505. which will indicate the breakdown of the lower boundary of the “Triangle” model and the beginning of the development of this pattern.
Bitcoin Forecast BTC/USD March 23, 2022 suggests an attempt to test the resistance level near the area of 43695. And further, the cryptocurrency will continue to fall with a potential target at 29505. 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 49005 area. This will indicate a continuation of the rise with a potential target above the 54505 area.
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