BTC chart review, March 29 2018 @ 19:30 PST

Here is the weekly chart of BTC with a heikin ashi candlesticks. It has printed 3 red weekly bars which identifies the downtrend.
The K line of the stochastics is under the D line and at the 25 level. Not a good sign for the longs...

• On the GDAX daily chart, we see the same red bars and it is gaining momentum. (longer bars) Bearish
• Since reaching the 11,645 level (resistance), it has produced lower highs and lower lows. Bearish
• Price is under the moving averages of 50 day (yellow), 100 day (not shown) and the 200 day (blue). Bearish
• The 50 day may be crossing over and under the 200 dma should the price continue to decline. Bearish
• Stochastics is in a downtrend and has reached the 25 level. Bearish
• Support should be the last major dip low on Feb 6th of 5873, if this level does not hold, it's most likely going to continue to decline. Support may be at a previous key high/low or a fibonacci level.
  

At least the average transaction fee is low, currently at $1.06 USD's.

Ever wonder how much is in the largest BTC wallet? Here is a shot of the Bitfinex Coldwallet holding 186,430 BTC worth 1.29 Billion.
The blue line is the BTC holdings which appear to be growing, the red line is the total in USD's.

Some of the news which is creating more fear is that Japan is increasing the regulations on BTC and a few exchanges shutting down.

Other misc BTC news for the day

I think it is apparent that BTC ran up too fast in 2017 and even though it is a volatile crypto with huge upside potential, it is still susceptible to a major selloff and consolidation.