Chart of the Day - Friday, March 25th, 2022
March 25, 2022
Today’s Chart of the Day was shared by Frank Cappelleri of Instinet (@FrankCappelleri). It's a daily bar chart of Bitcoin over the past six months. Frank points out that Bitcoin is approaching an important level around $45k. Price has failed at this level three times already in 2022 - will the fourth time be the charm? Bitcoin lives and dies by momentum, and luckily for the bulls, momentum (RSI) just reclaimed that crucial 60 level. Frank notes, "This clearly is an important resistance zone, with a potential breakout targeting the 56-57k range." Keep an eye on how this test plays out over the weekend!