BTC Price Consolidates Close to the $28K Barrier Zone

Bitcoin Is in a Horizontal Trend as It Consolidates Close to the $28K Barrier Zone – March 27, 2023

The price of Bitcoin has stayed in a holding pattern as it consolidates close to the $28K barrier zone. The pricing is currently between $26,500 and $28,500. Doji candlesticks have been present, which has caused the price movement to be stable in the meantime. The value of the largest cryptocurrency is falling below the level of support.

Bitcoin Price Statistics Data:•Bitcoin price now – $27,906.85•Bitcoin market cap – $539,693,234,939•Bitcoin circulating supply – 19,329,325 BTC•Bitcoin total supply – $14,265,924,072•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

Since March 19, buyers have been effective in keeping the favorable momentum close to resistance. $29,000. The overbought condition is preventing the coin’s price from rising. The possibility of a breakout is, however, commonly claimed to increase with consolidation near the resistance zone. One Bitcoin costs $27,885 at the time of writing. A price rebound will drive BTC above the $28,000 barrier level and through the $29,000 high. The upward trend will continue to a peak of $30,000. On the other hand, if it retraces below the $26,500 support, the price of BTC would fall. The bearish trend will continue till a low of $25,000 is reached. Bitcoin is at level 64 on the Relative Strength Index for period 14 because it is in the bullish trend zone.

Investing in Bitcoin: A Rewarding Venture 88.5% Of the Time

The price history of Bitcoin supports the idea that for it to function as a store of value, there must be a strict cap on the total supply as well as seamless global use. BTC holders had 4,065 successful days out of the 4,593 days that Bitcoin was a traded asset, which calls into question the conventional wisdom that volatility in cryptocurrencies has been declining over time. So, owning Bitcoin (BTC) over the long term is proven advantageous. The information emphasizes the need of comprehending the market cycles of Bitcoin and the reasons why investors should refrain from buying at the top and selling at the bottom. For considerably lower but reliable gains, some traders, however, choose to make daily deals on cryptocurrency exchanges.

Bitcoin price has remained in a horizontal trend as it consolidates close to the $28K barrier zone. Since March 19, the price of Bitcoin has fluctuated between $26,500 and $28,500. According to the price range, the largest cryptocurrency has risen to the overbought region of the market. Since the market has overbought, Bitcoin will likely continue to move in a range.

Bitcoin Alternatives

For the past week, the biggest cryptocurrency has been consolidating close to the $29,000 barrier zone. According to price indications, Bitcoin may be rising. Future benefits from Bitcoin will be advantageous to other cryptocurrencies and tokens. The LHINU cryptocurrency is becoming more popular even though the presale is still ongoing. Investors are likely to profit from this new coin. 90% of the total quantity of LHINU will be sold during a presale to ensure that the community holds the majority of the tokens. 10% is set aside for liquidity, listing expenses, and community prizes. The presale has already raised nearly $2 million.

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