empty
 
 
28.03.2024 05:03 PM
Trading Signals for BITCOIN (BTC/USD) on March 28-30, 2024: buy above $69,636 (3/8 Murray - 21 SMA)

This image is no longer relevant

Bitcoin is trading around 70,645, bouncing after having reached the bottom of the uptrend channel forming since March 21. BTC is respecting its bullish trend which makes us think that it could probably continue its rise in the coming days and the crypto could reach 4/8 of Murray around $75,000.

Whenever BTC trades above 68,750, there is a chance that it will continue to rise and could be seen as an opportunity to buy above this area.

If Bitcoin decisively breaks the bullish trend channel and consolidates below 68,750, we could see a downward acceleration. The price is likely to fall towards the 200 EMA at 64,213 and finally, towards 2/8 Murray at 62,500.

Technically, Bitcoin is approaching overbought levels according to the eagle indicator and we could expect a technical correction in the coming days. If this scenario occurs, we should expect confirmation of a sharp break below $69,000.

Our trading plan for the next few days is to buy BTC above 68,750 or above 69,636 with targets at 72,500, 74,000 and finally, $75,000.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback