FX.co - BTC update for March 27,.2023 - Tight range and potential for the breakout

2023-03-27T07:19:39

Relevance until2023-03-28

Technical analysis:

BTC update for March 27,.2023 - Tight range and potential for the breakout

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

Analytical expert

Petar Jacimovic

FX.co ★ BTC update for March 27,.2023 - Tight range and potential for the breakout