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30.03.202109:09 Forex Analysis & Reviews: Bitcoin Buyers Have Taken Full Control!

Bitcoin grows again after failing to validate a larger correction. The price is trading at $58,055 at the time of writing, right below $58,367 static resistance.

BTC/USD is bullish and the price could approach and reach the $61,788 all-time high in the coming days. The price action signaled that the short-term decline is over and that the major crypto could resume its major uptrend.

BTC/USD Strongly Bullish!

Exchange Rates 30.03.2021 analysis

BTC/USD failed to stabilize under the uptrend line. It has found support on the 50% Fibonacci line of the descending pitchfork and now it has escaped from the descending pitchfork's body.

It has decreased between the upper median line (uml) and the 50% Fibonacci line. The breakout from this minor channel was validated by the upper median line (uml) and the Pivot Point ($54,841) retest.

Bitcoin Forecast!

A bullish closure above $58,400 yesterday's high is seen as a bullish signal. The $61,788 historical high is seen as an immediate target. Jumping and stabilizing above it could indicate further growth.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Ralph Shedler,
Analytical expert of InstaSpot
© 2007-2025
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