Post
Topic
Board Speculation
Re: BTC bulls back?
by
Baofeng
on 27/03/2023, 22:07:04 UTC
Bitcoin has spent number of days beating around $28k, And looking at the Bitcoin price Chart, it's getting weak and Exhausted at $28k and the current price of $27k forming an up C curve, most likely that we will head back down to $25k to test that support level once again if failed to break towards the up side when the CME market opens tomorrow.
As lot of people are targeting to take profit at $30k, sometimes price might not get there and get a major pull back before actually going back up to hit the price and even make more higher prices.

As I have said previously, $28,500 is the big test and it seems we didn't passed that obviously, and as a result, the price did go on minor correction twice already and then attempted at least $28k which is rejected so the price goes below $27k again. However, the bulls is still in the market as we recovered on that short retracement and now the price is $27,100. I don't think that $30k will be breach this month. April is the most likely timeframe that we are going to breach that price. The game right now is that the price should steadily climb and not some weird artificial pump to $30k and higher. We should be like looking at how the month of January increases and same with the trend for this month. Let the bulls do the run ins, I know that we could be in the oversold zone, but at least we are now above 200 Moving Average Year to Date.

https://www.barchart.com/crypto/quotes/%5EBTCUSD/technical-analysis