BTC/USD Forex Signal Today 26/03: Eyes $90K Breakout (Chart)

2025-03-26 04:39:10

(MENAFN- Daily Forex) Potential signal:

I'd be a buyer bitcoin above the $90,000 level on a daily close.
I would have a stop loss at $87,000. I'd be aiming for $100,000.

The bitcoin market has initially fell during the trading session on Tuesday, only to turn around and show signs of life again. That's a good sign, but it's also worth noting that we are still in the midst of a very difficult region to trade. After all, the Bitcoin market has been trying to find some type of footing, and it is worth noting that we are between the couple of major trading indicators. Furthermore, it's also worth noting the Bitcoin is very highly sensitive to risk appetite, something that has been somewhat eviscerated as of late. Over the longer term, I do think that Bitcoin will recover, and it is worth noting that suddenly, there seems to be signs of life in this market.

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Technical analysis for Bitcoin is a bit neutral at the moment, but we are starting to change the overall tone. I would pay special attention to the $90,000 level, because it's an area that has been important more than once. Because of this, I think you need to be very cautious about trying to get aggressive yet, but if we do get a daily close above the $90,000 level, then the market is likely to go looking to the $100,000 level. The 200 Day EMA currently sits at the $85,000 level, and this is an area that I think could offer a little bit of support. If we were to break down below there, then I think we just simply go back into the previous consolidation area that has been so important over the last couple of weeks.

EURUSD Chart by TradingView

The $75,000 level below is a significant support level from what I can tell, and I think that will continue to be something that you need to be paying close attention to. If we can break above that $90,000 level, then I think you get a bit of“FOMO trading” coming into the picture. Breaking above the $100,000 level opens up the possibility of a move to run back to the $110,000 level. I am most certainly paying close attention to Bitcoin at the moment.

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