Bitcoin Short term analyse & market recap for 19 March 2018

Hello fellow steemians, today was a busy day in the markets with most of the markets worldwide in the red. The Nasdaq itself lost about 2% today led by crashes on Facebook with a 7% drop. As you can see bellow.

Not all news are bad news, and cryptos managed to recover from a 15 days loosing streak. This doesn't mean necessary that we hit the bottom, but i see a relief for now. As we all know bitcoin drives the whole crypto market, so I'll focus my today analyses on it.

Drawing a Fibonacci line (4h chart) of the recent downtrend from 11.5k to 7.5 k hit yesterday we can clearly see how the 38.2%, 50% and 61.8% levels correspond exactly to 9k, 9.5k and 10k respectively. So i expect a retracement until, at least, the 38.2% level that is 9k. I believe that it can go further touching the 9.5k line. That would be a sign of bulls gaining strength. The RSI is on a neutral level and MACD shows that for the moment bears are loosing strength... I believe that the bulls vs bears battle will peak at 10k. But for the moment it still is a little far away scenario. Let's see how the next couple of days evolve and we'll take it from there to reassess situation.

Remember this is no financial advice. Use this information at your own risk!