Technical Analysis for BTCUSD for 30th March 2023
Bitcoin Breaks Above $29k, Start Of The Next Bull Run?
Past Performance of BTC
Earlier today, Bitcoin broke above the recent consolidation, reaching Q1 2023 highs of around $29.1k. The leg up was in confirmation of yesterday's rejection of bears, a net positive for optimistic bulls. As it is, traders can search for entries on every attempt lower towards March 29 lows with targets at $30k and $32k.
Bitcoin Technical Analysis
Overall, buyers are upbeat, and the trend is northwards, clear from the daily chart. The consolidation of the past few days has completed a rising channel. Since prices didn't fall below immediate support levels, traders have been chiefly accumulating. This preview will hold provided prices are above $26.6k. Conservative traders can wait for a close above $29k before loading on in a breakout formation. Meanwhile, aggressive traders can align with the dominant trend, entering longs with targets at Q1 2022 lows at around $32k.
What to Expect from BTC
Resistance level to watch: $29k
Support level to watch: $26.6k
Disclaimer: Opinions expressed are not investment advice. Do your research.
For more interesting tips and facts visit our Education Centre.
Have Questions?
We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!
Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.