BTCUSD SIGNAL 28-03-22 : Latest Bitcoin price and analysis (BTC to USD).

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BTCUSD SIGNAL

BTCUSD SIGNAL 28-03-22 : Latest Bitcoin price and analysis (BTC to USD).

Bitcoin is currently trading at a three-month high of $47,000 following an impressive breakout on Sunday evening.

The world’s largest cryptocurrency now needs to begin closing consecutive daily candles above $46,400 to ensure it continues the recent uptrend.

BTCUSD SIGNAL : It has now, crucially, broken the cycle of lower highs from $45,800 and $45,300 as it gears up for a move towards the $50,000 level of resistance.

With $50,000 firmly in its sights, a swift move to the $53,000 may be on the cards if the asset can sustain trade volume this week.

The recent move has coincided with a 10% rally in the S&P500 as global markets begin to recover from the early-March lows caused by Russia’s conflict in Ukraine.

BTCUSD SIGNAL : Whilst there are still numerous warning signs from a macro standpoint, Bitcoin and the entire crypto market seems poised for continuation to the upside, although it’s worth noting that a corrective move to around $45,000 may come into fruition at some point this week.
 

A break back below $45,000 would indicate a fakeout – this would have devestating consequences as a huge amount of leverage and open interested has been added on the long side during this rally.

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