Cryptocurrency Bitcoin is trading at 67010 and continues to move as part of the correction and formation of the “Triangle” pattern. BTC/USD quotes are located inside the Cloud of the Ichimoku Kinko Hyo indicator. This suggests a short-term sideways trend for the digital asset. As part of the Bitcoin exchange rate forecast for March 27, 2024. A correction in the value of the asset and a test of the lower boundary of the Ichimoku indicator Cloud near the level of 65665 are expected to develop. Where can we expect a rebound upward and an attempt to continue the growth of the Bitcoin cryptocurrency with a potential target at the level of 73765.
Bitcoin Forecast and Analysis for March 27, 2024
An additional signal in favor of an increase in the BTC/USD cryptocurrency will be a test of the support area on the coin price chart. The second signal will be a rebound from the lower border of the Triangle pattern. Previously, a weak signal was received for buying the Bitcoin cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 64085. The nearest resistance area for BTC/USD on the chart is located at the level of 69455. The support area for Bitcoin is located at the level of 62365.
Cancellation of this option for the growth of the value of the digital asset Bitcoin tomorrow will be a fall and a breakdown of the lower boundary of the Ichimoku indicator Cloud with quotes closing below the level of 62005. This option will indicate a change in the sideways trend in favor of a bearish trend and a continuation of the fall in the Bitcoin rate against the US Dollar on March 27, 2024. Expect acceleration of the growth of BTC/USD quotes is with a breakdown of the resistance area and closing of the price above the level of 68505, which will indicate a breakdown of the upper boundary of the “Triangle” model and the beginning of the development of a pattern with targets above.
Bitcoin Forecast and Analysis for March 27, 2024 suggest an attempt to develop a cryptocurrency correction and a test of the support level near the area of 65665. Where it is worth considering the continued growth of the Bitcoin rate with a potential target near the level of 73765. The cancellation of the rise option will be a fall in the value of the asset and a breakdown area 62005. This will indicate a continuation of the decline with a potential target near the level of 57605.
