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27.03.202309:19 Forex Analysis & Reviews: BTC update for March 27,.2023 - Tight range and potential for the breakout

Technical analysis:

Exchange Rates 27.03.2023 analysis

BTC/USD has been trading sideways at the price of $27.800 and I see potetnial for the breakout mode.

Due to the strong upside cycle in the background and higher lows on H4, I see potential for the upside continuation.

In case of the breakout of resistance at $28.500, I see potential rally towards $32.000 and $35.000

Additionally, I found contraction of Bolinger Bands, which is another confirmation of the potential breakout regime.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert of InstaSpot
© 2007-2024
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