18.03.202215:39 Forex Analysis & Reviews: BTC update for March 18,.2022 - Potential for the drop towards $37.500

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Technical analysis:

BTCUSD has been trading sideways at the price of $40.500 and I see potential for the downside movement due to lack of buying power.

Trading recommendation:

Due to failed test of the median Pitchfork trend-line, I see potential for the downside movement.

Watch for selling opportunities with the downside objectives at $37.500 and $34.600.

Stochastic oscillator is showing overbought condition and fresh bear cross, which is sign for the further downside movement.

Short-term trend is neutral

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