empty
 
 
18.03.2022 10:26 PM
Bitcoin Upside Continuation To Be Confirmed!

The price of Bitcoin rallied in the second part of the day. It has climbed as much as 41,900. Now, it's trading at 41,722 at the time of writing and is fighting hard to take out the resistance represented by the 41,693.

BTC/USD increased by 4.57% from 40,068 today's low to 41,900 today's high. Technically, the price of bitcoin signaled that the downside seems over and that the buyers could push it higher again.

BTC/USD Breakout Attempt!

This image is no longer relevant

As you can see on the h4 chart, the BTC/USD escaped from the symmetrical triangle and now it seems determined to resume its growth. 41,693 former high stands as an upside obstacle.

A valid breakout above this static resistance could activate further growth. Technically, the upside pressure is high after failing to retest the 40,000 psychological level.

BTC/USD Prediction!

Confirming its breakout above 41,693 could activate a potential further growth towards the weekly R2 (44,604). In my opinion, only failing to stay above the weekly R1 of 41,198 could invalidate an upside continuation.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback