BTCUSD Potential Forecast | 17th March 2023

17 thg 3, 2023

Fundamental Backdrop
1. US economy continues to get hammered with the most recent SVB crisis.
2. Seeing the instability of the fiat currencies result in influx of investments and assets into cryptocurrency and Bitcoin.

Technical Confluences
1. Price retested the support level at 23844 before pushing up slightly.
2. Price has most recently broken structure on the daily timeframe.
3. Price is forming higher highs and higher lows.
4. Price rejected off the resistance level at 25100 before come back to retest support level at 23844.

Idea
Price can potentially continue to head higher to 30000 regions before the bullish momentum begins to wane.






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