Crypto Briefing 3/22/23 – The Forecast

Crypto Briefing 3/22/23

Crypto Briefing 3/22/23

The overall trend of BTC is beginning to weaken. Our bias still remains towards the downside, but we should see Bitcoin continue to form a channel or go into a trading range. We believe that a decline in equities will be the catalyst for this downturn, and it will likely be attributed to the current crisis in the banking system. While this may seem like something positive for Bitcoin’s price, a decline of this nature would result in markets across the board feeling pain.

XRP has broken a year-long trend line. XRP is known for its swift and powerful moves, and we expect to see at least two legs should this be a sustained breakout. Should we see our pullback in crypto and equities, this trend line will mark a significant area of support. We will be able to more accurately gauge the momentum of this move later this week.

Casper is in a broad trading range. While we have seen numerous altcoins experience positive price movements, Casper remains stagnant. In the event that CSPR joins the rest of the crypto market in a rally, we feel that it will face resistance at $0.055