BTCUSD Potential Forecast | 17th March 2023
Fundamental Backdrop
1. US economy continues to get hammered with the most recent SVB crisis.
2. Seeing the instability of the fiat currencies result in influx of investments and assets into cryptocurrency and Bitcoin.
Technical Confluences
1. Price retested the support level at 23844 before pushing up slightly.
2. Price has most recently broken structure on the daily timeframe.
3. Price is forming higher highs and higher lows.
4. Price rejected off the resistance level at 25100 before come back to retest support level at 23844.
Idea
Price can potentially continue to head higher to 30000 regions before the bullish momentum begins to wane.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. US economy continues to get hammered with the most recent SVB crisis.
2. Seeing the instability of the fiat currencies result in influx of investments and assets into cryptocurrency and Bitcoin.
Technical Confluences
1. Price retested the support level at 23844 before pushing up slightly.
2. Price has most recently broken structure on the daily timeframe.
3. Price is forming higher highs and higher lows.
4. Price rejected off the resistance level at 25100 before come back to retest support level at 23844.
Idea
Price can potentially continue to head higher to 30000 regions before the bullish momentum begins to wane.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
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