Bitcoin

The price of bitcoin was unable to break through the $28,500 resistance zone, which prompted a downward price reaction. A pessimistic response was observed after the Federal Reserve raised interest rates from 4.75 percentage points to 5 percentage points. BTC fell to a price that was lower than the $27,500 support zone.On the hourly chart of the BTC/USD pair, there was a breach below an important bullish trend line that had support near $27,900. This trend line was located near the $27,900 area. Even lower than that, trades took place below the $27,000 threshold. The price has reached a low somewhere close to $26,623, and it is currently correcting its losses.The price of bitcoin broke above the 23.6% Fib retracement level of the decline that began when it reached a high of $28,879 and ended when it reached a low of $26,623. It is currently trading at a price that is lower than $27,800 as well as the 100 hourly simple moving average.To the upside, an immediate barrier of resistance can be found close to the level of $27,750, and current trading levels are lower than $27,800 as well as the 100 hourly simple moving average. It is quite close to the 50% Fib retracement level of the decline that began from the swing high of $28,879 and ended at the low of $26,623.The next significant barrier to overcome is located close to the $28,000 zone. A sustained break above the $28,000 resistance level may signal the beginning of another significant climb. Given the scenario described, there is a chance that the price will go closer to the level of $28,500. Any further advances might potentially drive the price into the zone of resistance at $28,850.If the price of bitcoin is unable to break through the resistance level of $28,000, it may start another drop. The region around the $27,000 price point acts as an immediate support on the downside.The region around $26,600 represents the next significant area of support. Should there be any further selling pressure, the price may go closer to the $26,000 support zone. The area around the $25,200 price point constitutes the next significant support.

Bitcoin Price Corrects But Uptrend Is Still Intact and BTC Could Rally Again

ItsBitcoinWorld

Artikel lain yang dipublikasikan pada 23 Mar 2023

Braintrust Network Update: March 2023

Elevate Your Crypto Trading Game with Binance

FOMC Rate Hike Briefly Dips BTC Below $27k, Crypto Daily TV 23/3/2023

Op-ed: The unspoken Ethereum revolution: Are EOAs becoming obsolete

Watch, Play, And Earn With Vivi: The Future of Social Media | Gabbar Press Release

Tron Founder Justin Sun Filed Lawsuit by U.S. SEC

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!