Bitcoin Analysis for 2020-03-23 [Premium Analysis]

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In Brief
  • Bitcoin has reached a weekly close above the 200-week moving average.

  • BTC has failed to reclaim important high time-frame resistance levels.

  • It is expected to retreat back to support in the short-term.

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During the week of March 16-23, the BTC price bounced and recouped some of the losses from the previous week. While at one point it reached a high of $6,900, the price decreased afterward and closed near $5,800. Bitcoin (BTC) Price Highlights The Bitcoin price has reached a weekly close above its 200-week moving average (MA). It may be following an ascending support line.

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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