Bitcoin price drops back to $4,000

March 28, OctaFX – Bitcoin is trading back towards the $4,000 level on Thursday after the number one cryptocurrency found strong technical support from the $3,850 level earlier this week.

BTCUSD price technical analysis

The daily time frame shows that BTCUSD pair continues to trade above the triangle pattern, with a $400.00 upside target. Bitcoin also closed the session about its 100-day moving average for the first time since July 2018.

  • The BTCUSD pair is bullish while trading above the $3,850 level, key technical resistance remains at the $4,225 and $4,400 levels.

  • If the BTCUSD pair trades under the $3,850 level, sellers may test towards the $3,700 and $3,630 support levels.


This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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