According to a recent analysis, the Fibonacci retracement indicator suggests that there could be a rally in bitcoin price on Sunday. The analysis indicates that bitcoin is trading near a key support level, which is the 61.8% Fibonacci retracement level. The Fibonacci retracement tool is widely used by traders to identify potential levels of support and resistance.
Also explores the potential impact of the upcoming expiration of bitcoin futures contracts on March 26. The expiry of these contracts may increase the volatility in the market. Additionally, there is talk of a recent decline in the price of Ethereum, that it has broken below its 200-day moving average.
Provides technical analysis of the current price movement of bitcoin and provides insight into potential market trends. However, it is important to note that market predictions are not always accurate and should be taken with caution.
-
Table of Contents:-
Bitcoin Soars to $28,380: 72% Increase Since January 1st
