FX.co - BTC update for March 24,.2023 - Tight range and potential for the breakout

2023-03-24T08:08:49

Relevance until2023-03-25

Technical analysis:

BTC update for March 24,.2023 - Tight range and potential for the breakout

BTC/USD has been trading sideways at the price of $28.460 and I see potential for the breakout mode.

Due to the strong upside trend in the background, I see potential for the upside continuation towards upper reference.

In case of the upside breakout of the resistance at $28.500, upside objectives are set at $34.000 and $35.000

MACD oscillators showing relative strength, which is good sign for the further upside movement.

Support is set at the price of $27.400

*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 24,.2023 - Tight range and potential for the breakout