Bitcoin

A second attempt was made by the price of bitcoin to break beyond the $28,500 barrier. BTC, however, found it difficult to get up speed in order to close over the $28,500 resistance area.There was a downward adjustment below the $28,000 mark as a result. Price fell sharply below the level of the upward movement from the $23,912 swing low to the $28,591 high, or the 50% Fib retracement level. Both the 100 hourly simple moving average and the crucial $27,400 support region were investigated.The 61.8% Fib retracement level of the upward movement from the $23,912 swing low to $28,591 high was held by the bulls. In the hourly chart of the BTC/USD pair, a significant bullish trend line is also forming, with support located close to $27,780.The price of bitcoin is currently trading over $27,500 as well as the 100 hourly simple moving average. At the $28,400 mark, there is immediate resistance on the upside.At the $28,500 region or the most recent high comes the next significant obstacle. Another significant gain could begin if the $28,500 resistance is closed above. In the hypothetical situation, the cost might increase to around $29,200. Any further advances could push the price in the direction of the $30,000 barrier area.A downward correction in the price of bitcoin could begin if it is unable to overcome the $28,500 resistance. The $27,780 area, the trend line, and the 100 hourly simple moving average provide immediate support on the downside.The $27,000 region represents the next significant support. The price may move near the $26,200 support area if there are any additional losses. Near the $25,700 mark, there comes the next significant support.

Bitcoin Price Looks Ready For Another Leg Higher Over $28.5K

ItsBitcoinWorld

Egyéb ezen a dátumon (2023. márc. 22.) megosztott cikkek

Is The Current Bitcoin Rally Signaling The Start Of The Next Altcoin Season?

Bankrupty Court: Celsius Network custody accounts to get 72.5% of their crypto holdings

Research Spotlight | Meet the Team

Monero Founder Denies Interpol Allegations, But Black Swan Author Finds It Amusing

Human Organization 4.0, part one

Texas Lawmaker Wants To Protect BTC Miners

Join our free newsletter for daily crypto updates!