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Bitcoin – USD Forecasts, March 25, 2020
Bitcoin – USD  Forecasts, March 25, 2020
Posted

By - Jamel Lahiani

Posted - 25-03-2020
  • The Bitcoin/USD is ranging volatile at short term. Buy
  • The Euro/USD is ranging volatile at short term. Buy
  • The GBP/USD is bullish volatile at short term. Buy

Today our analysis will be concerned with:
BTCUSD (Bitcoin /US Dollar) the most popular cryptocurrency in the world exchanged to the US dollar. Bitcoin price grew significantly within a short period of time making the BTC/USD pair quite popular among active traders and investors.

EURUSD (Euro /US Dollar) is the most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999. GBPUSD (British Pound /US Dollar) is the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world.

Bitcoin

FOREX Market Insights
The Dow Jones overfly on Tuesday to its biggest one-day percentage gain since 1933, after US lawmakers said they were close to a deal for an economic rescue package in response to the coronavirus outbreak, injecting optimism following the biggest selloff since the financial crisis. This leading a surge of the other stocks market in Europe and Asia, also a consolidation of crude oil, gold and silver prices.

Today in Focus
Today, we have a high impact published indicators and events:

AT 07H00GMT: The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services.

AT 13H30GMT: The Durable Goods Orders, released by the US Census Bureau, measures the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, such as motor vehicles and appliances.

Bitcoin

GRAPHIC 1: BTCUSD HOURLY CHART (MARCH 25, 2020)
OPEN PRICE: 6767.07  SUPPORT: 6153.62  RESISTANCE: 6853.29
The BTCUSD chart has a ranging volatile movement between the green support line and the red resistance line. The chart crosses MA14 blue line to the upside and going for higher low movement. So, it is expected profitable to buy this pair, especially if a candle closes above the red resistance line. If a pullback occurred from the red resistance line to the downside with the existence of a pine bar then it is possible to passes a sell order.

Bitcoin

GRAPHIC 2: EURUSD HOURLY CHART (MARCH 25, 2020)
OPEN PRICE: 1.07865  SUPPORT: 1.07194  RESISTANCE: 1.08885
The EURUSD chart has a ranging volatile movement between the green support line and the red
resistance line. The chart moves above MA14 blue line. It is expected profitable to sell this pair if a pullback occurred from the red resistance line at the top. If a pullback occurred at the bottom from the green support line then a buy order is expected profitable. If a candle closes outside of the channel then just follow the trend.

Bitcoin

GRAPHIC 3: GBPUSD HOURLY CHART (MARCH 25, 2020)
OPEN PRICE: 1.17526  SUPPORT: 1.14051  RESISTANCE: 1.19431
The GBPUSD chart has a bullish volatile movement inside the green channel. The chart moves above
MA14 blue line and going for higher low and higher high movement. It is expected profitable to buy
this pair if a candle closes above the half limit of the channel. If a candle closes under the bottom limit of the channel then a sell order will be more profitable.

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