Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. Each and every one of our writers has an active tipping widget.
  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

Bitcoin Price and Technical Market Analysis March 27th, 2020

written by

Bitcoin Price and Technical Market Analysis March 27th, 2020

Support free journalists: > send a tip

  • The mark $6600 was the base for a new local buyers’ attack.
  • Buyers failed to fix above the mark $6830.
  • Keeping $6760 and fixing below $6600 sellers open the prospect of falling to $5950.

Yesterday on Bitcoin market was another ambiguous candle. Sellers failed to pass buyers’ protection yesterday and fix below Bitcoin price $6600. Trading volumes remain low and market participants continue to solve their financial problems in consolidation $6600-6830. Keeping $6600 with several false breakdowns, buyers increased the probability of breaking the current consolidation upwards with a target $7550. We mentioned this optimistic scenario for buyers in our previous analyses.

However, the new attack of $6830 was on low volumes which did not match the sharp aggressive candles with which buyers were raising the price on Bitcoin market:

Bitcoin Price and Technical Market Analysis March 27th, 2020

As we see on the hourly timeframe, with such volumes, buyers only managed to reach the critical point $6830, easily breaking it. Sellers easily lowered Bitcoin price back to the local price range $6600- $ 66635. There buyers several hours accumulated volumes for a small attack. Again, the situation with this consolidation will most likely be resolved over the weekend.

Buyers currently have little initiative in keeping the price on Bitcoin market in the local channel. It was created after a failed attempt to update the local high on 25 March:

Bitcoin Price and Technical Market Analysis March 27th, 2020

To break the current trend, sellers should not allowed Bitcoin price to raise above $6760 and fix below $6600.

Otherwise, buyers lazily, but surely will fix above $6830 and continue to grow.

Speaking of daily timeframe, we see that yesterday’s candle did not add clarity to the overall picture:

Bitcoin Price and Technical Market Analysis March 27th, 2020

The candle on low volumes closed below $6760. Basically, all daily candles are closed below this mark. Though, the real aggression of sellers begins after crossing $6830. That’s why especially this price mark is an indicator for us.

According to the wave analysis in Bitcoin market, buyers were able to correct the fall wave from 25 March by 78.2%. If we consider the scenario of the fall, then after breaking $6600 the next global price stop is at $5987:

Bitcoin Price and Technical Market Analysis March 27th, 2020

Nevertheless, if the growth wave from 13 March is not complete yet, after fixing above Bitcoin price $6830, we expect another local wave of growth with the mark $7550. Congratulations with the end of the working week, although a big surprise may be expected for the weekend. is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow on Twitter: @bitcoinnewscom
Telegram Alerts from

Image Courtesy: TradingView

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter