Bitcoin Price Prospect: 23.03.2018

Despite our prediction that Bitcoin will be supported at $8750, it broke through the trend line downward. Thus, we need to care about next possible cases that Bitcoin will show.

Before getting to the point, keep in mind that it's obvious that current Bitcoin price movement has been making the reverse head&shoulders pattern and the neckline is made proportional. So, no matter what happens, this pattern tells us that it's gonna move upward after all.

This is the first case that we're gonna look at. This case means Bitcoin price will be supported at the middle point of the two trend lines, completing the pattern.

If it fails to break through the previous trend line, then the second chance still exists. Once again, it is likely to touch the middle point and then trynna go upward beyond that trend line.

Lastly, it could be one of the worst cases that we can think of. Bitcoin price can ignore the middle point that I said before, and reach the next bottom trend line. In this case, the expected price range would be between $8000-$8150. If this happens, it will take more time to show huge rise-up.