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Crypto Shot 03/13: Bitcoin Hanging Over Precipice

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Tue, 13/03/2018 - 13:40
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Crypto Shot 03/13: Bitcoin Hanging Over Precipice
Cover image via U.Today
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The cryptocurrency market is hanging over a precipice in a state of uncertainty.

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Now I am looking only at Bitcoin because the assets are very unidirectional and the valuation of the underlying asset makes it easier to assess the overall market situation.

Buyers continue to attempt to return to the trading range of $11,800-$9,300 (5), but each time they meet resistance and can not gain a foothold in (1).

We see upward currents and a series of rising lows (2), which can pick up the price and raise it to the old range, but if sellers cancel this logic and the day candle closes below $8,400, then we will see a new reduction target in the $7,250 area (3) .

Conflict levels show that the direction will be determined before March 18 (4).

Picture 1

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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