FX.co - BTC analysis for 03.27.2020 - I expect further drop on BTC towards the levels at $4.400 and $3.800. The breakout of the bear flag pattern is good sign for the continuation

2020-03-27T12:56:52

Relevance until2020-03-28

BTC analysis for 03.27.2020 - I expect further drop on BTC towards the levels at $4.400 and $3.800. The breakout of the bear flag pattern is good sign for the continuation

BTC analysis for 03.27.2020 - I expect further drop on BTC towards the levels at $4.400 and $3.800. The breakout of the bear flag pattern is good sign...

Technical analysis:

BTC finally did breakout of the multi-day bear flag pattern, which is indication that sellers took control over buyers and that potential upward correction has completed.

Watch for selling opportunities if you see the breakout of the support at $6.430. The downward targets are set at the price of $4.412 and $3.800.

MACD oscillator is showing bear divergence and the slow line is turned downside, which is sign that sellers ae taking control from buyers.

Resistance levels are set at the price of $7.000 and $7.623.

Support levels and downward targets are set at the price of $4.412 and $3.800.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

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Analytical expert

Petar Jacimovic

InstaFintech Group @ 2007-2025

FX.co ★ BTC analysis for 03.27.2020 - I expect further drop on BTC towards the levels at $4.400 and $3.800. The breakout of the bear flag pattern is good sign for the continuation

Forex Analysis

BTC analysis for 03.27.2020 - I expect further drop on BTC towards the levels at $4.400 and $3.800. The breakout of the bear flag pattern is good sign for the continuation