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27.03.202316:40 Forex Analysis & Reviews: Bitcoin analysis for March 27th, 2023.

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Blue lines- bearish RSI divergence

Red lines- trading range

Bitcoin is trading around $27,300. Over the last couple of sessions price has made no real progress to the upside or the downside. Price is trading mostly sideways inside a trading range. The RSI has provided us with a bearish divergence signal. Short-term support is found at the lower range boundary at $26,700. A break below the lower red range boundary will bring even more sellers and will most probably push price towards $24,500. Resistance is found at $28,880. Recapturing this level would be an important bullish sign.

Alexandros Yfantis
Analytical expert of InstaForex
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