Bitcoin technical analysis: Probably going to 69k

Discover Bitcoin's recent movements & future directions, after it seemed to have found support at the 20ema on the daily chart. But it might be temporary. Watching a retracement up t0 69000-70000. See our latest bitcoin technical analysis video.

Sunday, 17/03/2024 | 14:15 GMT

Bitcoin technical analysis video, EMA20 on the daily as ( temporary?) support

Welcome to our latest Bitcoin technical analysis! We delve into the daily timeframe, examining the recent movements and potential future directions of Bitcoin.

🔍 Today's bitcoin technical analysis highlights:

Observation of the past two daily candles and their proximity to the crucial 20 EMA, a significant indicator for algo firms and professional traders.
A potential downward movement was noticed, followed by a rebound over the 20 EMA, signaling a potential temporary bounce.
Discussion on key price levels to watch, specifically around the $68,400 and $69,250 to $70,000 range, within a notable trend line zone after a double bottom pattern, suggesting a possible breakout.

📈 What's Next for Bitcoin?

Bitcon probably going to 69k next. We're closely monitoring these developments for signs of a temporary bounce. However, trading involves risks, and we advise trading at your own risk.

🌐 Stay Updated: For more insights and updates, remember to return to ForexLive.com, your go-to source for real-time forex news and analysis.

📊 Disclaimer: This analysis is for informational purposes only. Itai Levitan and ForexLive.com are not providing financial, investment, or trading advice. Always conduct your own research before making any investment decisions.

💬 Join the Discussion: Have thoughts on where Bitcoin is headed? Share your predictions and questions in the comments below! Let's dive into the analysis and explore the potential scenarios together.