empty
 
 
12.03.2018 12:12 PM
BITCOIN Analysis for March 12, 2018

Bitcoin has been quite impulsive with the bullish gains after bouncing off the $8,500 price area with a daily close. Recently Bitcoin failed to sustain its momentum to break above $12,000 which led the price to have a drastic fall below $10,000 price area, resulting in further bearish pressure. The recent bearish pressure is assumed to be triggered by the measures from Japan's Regulator to the domestic Bitcoin Exchanges. Recently, several Bitcoin exchanges were shut down in Japan. Currently, the price is struggling to break above $10,000 price area and a daily close above $10,000 is expected push the price higher towards $12,000 in the coming days. As the bullish engulfing candle was quite impulsive, the bulls are currently expected to be more powerful than before to push the price much higher in the future. As the price remains above $8,500 price area, BTC is likely to extend the bullish bias.

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback