Technical Analysis for BTCUSD for 22nd March 2023
Bitcoin Momentum Strong as BTC Anchors on $25k
Past Performance of BTC
Bitcoin Technical Analysis
Bulls are solid and upbeat per the technical candlestick arrangement in the daily chart. Bars are still along the upper BB, and the short-term trend is defined. Since trading volumes are also expanding, traders can look to ride this rally, buying on dips above $25k or February highs. BTC may continue ripping higher at this pace, breaking strongly above May's key reaction points to $32k as the coin recovers after last year's sharp losses.
What to Expect from BTC
The uptrend is clear, and BTC is trading above crucial resistance lines. Since bulls are in control and the upside momentum defined, the immediate reaction level that traders can watch out for is the $30k psychological point and, later, $32k.
Resistance level to watch: $32k
Support level to watch: $25k
Disclaimer: Opinions expressed are not investment advice. Do your research.
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