FX.co - BTC update for March 29,.2022 - Potential for the downside correction

2022-03-29T12:59:12

Relevance until2022-03-30

Technical analysis:

BTC update for March 29,.2022 - Potential for the downside correction

BTC has been trading sideways at the price of $47.900. I see potential for the downside correction before any further upside continuation.

Trading recommendation:

Due to potential exhaustion in the background from the buyers, I see potential for the downside rotation.

Watch for potential downside movement towards $46.950 and $45.270.

Stochastic and MACD are showing decrease in the upside momentum which is another sign for potential downside rotation.

Resistance is set at the price of $48.000

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

Analytical expert

Petar Jacimovic

FX.co ★ BTC update for March 29,.2022 - Potential for the downside correction