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Bitcoin (BTC) Price Analysis for March 21

Tue, 03/21/2023 - 15:50
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Denys Serhiichuk
Has Bitcoin (BTC) reached overbought zone yet?
Bitcoin (BTC) Price Analysis for March 21
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The market is trading sideways as the rates of some coins are rising, while the prices of others are falling.

Top coins by CoinMarketCap


 The price of Bitcoin (BTC) has declined by almost 1% over the last 24 hours.

BTC/USD chart by TradingView

On the hourly chart, the price of Bitcoin (BTC) is trading in the middle of the local channel, accumulating power for a further move. Currently, traders should pay attention to the daily closure. If it happens close to the resistance at $28,314, the breakout may lead to a continued rise to the $29,000 zone.

BTC/USD chart by TradingView

The price is trying to fix above the $28,000 mark on the daily time frame. From a technical point of view, Bitcoin (BTC) needs more time to accumulate energy for further growth.

BTC, ETH and XRP Price Analysis for March 20

In this case, sideways trading in the area of $27,000-$28,000 is the more likely scenario for the next days.

BTC/USD chart by TradingView

From the midterm point of view, the price has made a false breakout of the interim resistance level at $28,474. If the bar closes far from it, there is a chance to see a correction to the $27,000 zone at the beginning of next week.

Bitcoin is trading at $28,015 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