Analysis of the Bitcoin price - March 19, 2018
In recent days, the cost of the Bitcoin has remained below the short-lived downward trendline. Today, however, buyers managed to overcome and crossed the level of resistance formed by the line, which may be an early bullish signal.
The bad news is that technical indicators show that the more likely path is down and that the market has entered an overbought zone. If this scenario is met, the next level of support is about $ 7,200, but testing at lower levels is far from excluded.
However, if buyers manage to withstand the pressure of sellers and the price is $ 8500, we may see a jump of up to $ 10,000.
To a large extent, how the scenario will develop depends on the G20 meeting, which will also discuss the situation around the crypto world.
The analysis is for informational purposes only and does not constitute advice, recommendation or offer to buy or sell Bitcoin, any other cryptocurrencies or financial instrument. SuggeElson is not responsible for any losses after the use of the current analysis. Invest wisely and only amounts that you can afford to lose.
image source - Trading view
You got a 14.41% upvote from @luckyvotes courtesy of @suggeelson!
Release the Kraken! You got a 11.97% upvote from @seakraken courtesy of @suggeelson!
You got a 44.12% upvote from @upyou thanks to @suggeelson! Send at least 0.1SBD or 0.1STEEM to get upvote for next round.
good update
i think this issue of volatility is high these days and we may expect more downward trend. thanks for sharing.
Bitcoin will remain volatile for a long time...good opportunity to make some fast money however people will lose too especially emotional traders...good post indeed, thanks
Pls see your wallet for my message . See my latest post about spamm I also sent 20SBD to Upme with issues...I mentioned the spam link..waiting https://steemit.com/community/@charles1/warning-scammers-on-steemit-are-getting-smarter-phishing-links-steem-clones-et-al pls help me to get my refund
Hey suggeelson , I am building my own top 10 posts from steemit and I want to pick one of your posts to be part of my list!
For the moment I do not know if I will choose your post or this one: https://stееmit.com/@omori/2tjumt
Do you think you can make a better article, to beat this one?