empty
 
 
16.03.2023 07:33 PM
Bitcoin in buyers' territory

The price of Bitcoin ended its retreat and now is fighting hard to rebound. It's trading at 23,929 at the time of writing. The bias remains bullish in the short term despite the last drop. After its strong growth, a minor drop was natural.

In the last 24 hours, BTC/USD is up by 0.38% and by 14.18% in the last 7 days. Technically, the crypto remains under strong upside pressure, further growth should help the altcoins to grow as well.

BTC/USD Minor Range!

This image is no longer relevant

BTC/USD dropped a little after registering a false breakout above the weekly R3 of 26,346. Now, it has dropped but it has failed to stay below the weekly R2 (24,468) and under the major ascending pitchfork's median line (ML).

Personally, I've drawn a minor pitchfork as well, the median line (ml) stands as a dynamic support. BTC/USD registered only a false breakdown with great separation through this obstacle signaling strong buyers.

BTC/USD Outlook!

BTC/USD is trapped between 25,212 and 24,092 levels in the short term. Escaping from this pattern should bring new trading opportunities. A valid breakout above 25,212 activates further growth and is seen as a long signal.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback