Bitcoin BTC/USD ends the trading week at 28005, continues to move as part of the development of growth and a downward channel. Moving averages indicate the presence of a sideways 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 28655. 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 15605.
Bitcoin Weekly Forecast March 27 — 31, 2023
An additional signal in favor of a decrease in BTC/USD quotes in the current trading week March 27 — 31, 2023 will be a rebound from the upper border of the descending channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the fall option for Bitcoin will be a strong growth and a breakdown of the area of 33405. This will indicate a breakdown of the resistance area and continued growth of BTC/USD quotes with a potential target above the level of 39605. A confirmation of the development of the downward movement will be a breakdown of the support area and closing of quotes below the level of 18655, which will indicate breakdown of the lower border of the bullish channel.
Bitcoin Weekly Forecast March 27 — 31, 2023 suggests an attempt at the resistance area near the level of 28655. Then the cryptocurrency will continue to fall to the area below the level of 15605. 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 33405. In this case, we should expect a continuation of the rise with the target at the level of 39605.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
