Bitcoin (BTC/USD) Price Finds a Base, Following Massive Corrections
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Bitcoin Price Prediction – March 20
The last significant active price actions produced a fresh all-time high trade valuation slightly above the resistance line of $70,000, given that the BTC/USD trade finds a base around the point of $60,000, following massive corrections.
Today’s bargaining activities mark the lower trade spot upon which the price has been making a notable spring-up, letting the point of $60,000 to serve as the core pivotal spot in retardation of further fall-offs. Traders who base their entries on longing orders might not see recoveries right away, particularly if the market is still confirming their entry points.
BTC/USD Market
Key Levels:
Resistance levels: $70,000, $75,000, $77,500
Support levels: $60,000, $57,500, $55,000
BTC/USD – Daily Chart
The BTC/USD daily chart reveals that the crypto-economic market finds a base around the point of $60,000, following massive corrections.
The stochastic oscillators have been in the oversold region, and the development of a candlestick that is primarily showing a positive movement is a signal that there may be more free drops ahead. The Bollinger Band trend lines are positioned northwardly by making thee value of support at $60,000 to be the main underlying zone that bears will need an aggressive braking velocity to stage.
Should purchasers take a temporary break if the BTC/USD market continues to correct against $60,000?
A furthering of retracement movement may tend to be prolonged around the point of $60,000 if bulls fail to muscle up their presence on the current moves that the market is striving to get back upward, as the current situation reports that the BTC/USD price is finding a base, following massive corrections.
As it has been principally observed that a baseline has been detected around the line of $60,000, long-position placers are expected to get ready for re-energizing their positions even if three will be more way for reductions to featureCapitalists also need to have a greater sense of optimism over the likelihood of further upswings in the near future.
The critical location for sellers to make sure that bulls do not make another appearance in the market appears to be the trade points surrounding the middle Bollinger Band and the $70,000 resistance line. Attempts to lower the price much more below $60,000 will not create a favorable atmosphere for those who hold short positions.
BTC/USD 4-hour Chart
The BTC/USD 4-hour chart shows that the crypto market is finding a base around the lower Bollinger Band, following massive corrections.
In keeping with the retracement movements that have recently dominated the market, the Bollinger Band trend lines are bending somewhat southward. The stochastic oscillators have been attempting to acquire an upside repositional format. Based on the medium-term running pattern, it appears that the $65,000 mark around the middle Bollinger Band will serve as the barrier zone returning northward.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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