Bitcoin BTC/USD ends the trading week at 26609, continues to move as part of the development of growth and a bullish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the asset and a potential continuation of the growth of asset quotes. At the moment, we should expect an attempt to develop a rise in the price of the coin and test the resistance area near the level of 28405. From where we should again expect a rebound down and a continued fall in the Bitcoin rate with a potential target below the level of 13405.
Bitcoin Weekly Forecast March 20 — 24, 2023
An additional signal in favor of a decrease in BTC/USD quotes in the current trading week March 20 — 24, 2023 will be a rebound from the upper limit of the bullish channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the Bitcoin fall option will be a strong growth and a breakdown of the area of 29405. This will indicate a breakdown of the resistance area and continued growth of BTC/USD quotes with a potential target above the level of 34505. The development of the downward movement will be confirmed by a breakdown of the support area and closing of quotes below the level of 19405, which will indicate breakdown of the lower border of the bullish channel.
Bitcoin Weekly Forecast March 20 — 24, 2023 suggests an attempt at the resistance area near the level of 28405. Then the cryptocurrency will continue to fall to the area below the level of 13405. An additional signal in favor of the Bitcoin rate depreciation in the current trading week will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling Bitcoin cryptocurrency quotes will be a strong growth and a breakdown of the area of 29405. In this case, we should expect a continuation of the rise with the target at the level of 34505.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
