Crypto Analysis Report 3-15-18 BITCOIN...Price Drops Below At $8400...Now What???
Yesterday, I wrote price was range bound and between $8400 and $10000 was the no trade zone.
Between Buyers At $8400 and Sellers At $10000
Today, price broke down below $8400, so now what???
Big Picture
Now lets zoom in for a closer look. Price found buyers at $7663 and broke a 4 hr trend line.
Price needs to close over the 4 hr candle that the pink arrow is pointed at. If this can occur, price has a can of taking out the sellers at $8750, then the sellers at $9250 (green circles). If price can't close above that key 4 hr candle, look for price to go down to find the next buy orders at $7200.
Personally, I like the buy orders at $6000 because that was the origin of the move to $12000, which signifies extreme interests in buying at that level...not to say price will go that low, but that level is buying Bitcoin at an extreme discount
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
