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Bitcoin (BTC) Price Analysis for March 17

Fri, 03/17/2023 - 16:00
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Denys Serhiichuk
Does Bitcoin (BTC) have enough energy for midterm growth?
Bitcoin (BTC) Price Analysis for March 17
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Bulls have seized the initiative again as most of the coins are in the green zone.

Top coins by CoinMarketCap


The rate of Bitcoin (BTC) has increased by 5.10% over the last 24 hours.

BTC/USD chart by TradingView

On the hourly chart, the price of Bitcoin (BTC) has broken the local support level at $25,956. At the moment, the rate is trading in the middle of a narrow range, accumulating power for a further move.

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There are low chances to see either growth or decline today as most of the ATR has been passed. In this case, the more likely scenario is ongoing sideways trading in the area of $26,000-$26,500.

BTC/USD chart by TradingView

On the daily time frame, traders should pay attention to the nearest resistance at $26,533. If the candle closes near it, growth may continue to the $27,000 mark and above tomorrow.

BTC/USD chart by TradingView

From the midterm point of view, the price of Bitcoin (BTC) has approached the resistance at $26,845. If the bar closes with no long wicks, the accumulated energy might be enough for a blast to the $28,000-$30,000 zone.

Bitcoin is trading at $26,351 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at