FX.co ★ Trading Signals for BITCOIN (BTC/USD) on March 27-29, 2024: buy above $70, 200 (3/8 Murray - 21 SMA)

Bitcoin is trading around the psychological level of $70,000, showing some consolidation having reached the top of the uptrend channel forming since March 19.

A sharp break of the pennant pattern could cause an upward movement that could reach the $73,000 area. Once surpassed, the crypto could climb the psychological level of $75,000.

At current price levels, we can look for opportunities to buy with targets at 72,042 and 72,800. On the contrary, a technical bounce around 3/8 Murray and the 21 SMA will be seen as an opportunity to buy with the target at 73,200.

A drop below $68,000 could change Bitcoin's trend and we could expect a bearish continuation towards the bottom of the uptrend channel around 65,500.

Technically, Bitcoin is showing signs of a strong upward trend which is mirrored by the eagle indicator. Therefore, any technical correction or rebound in the coming days will be seen as an opportunity to buy.