Technical analysis of BTC/USD 03/14/2023

Bitcoin found support at the 15,500 level, after which it resumed growth in an upward channel.

The price broke through from below (MA100), (MA200) for the daily chart and is currently consolidating around 24,500.

The technical picture suggests a continuation of the upward correction to the resistance level of 28,000 (23.6% Fibo).

If the price manages to consolidate above the level of 28,000, this will mean the development of an upward correction with a target near the level of 36,000 (38.2% Fibo).

Cancellation of the option for the development of an upward correction will be a decrease in quotes below the low of 15,500, which will mean a continuation of the downtrend with a potential target around 13,000.


Created by Joshua Hayn

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