empty
 
 
23.03.2018 07:50 AM
BITCOIN Analysis for March 23, 2018

Bitcoin is currently residing below $8,500 price area, though a daily close was not observed yesterday. Some speculation is going on about the global trading war which is assumed to lead to certain bearish pressure in Bitcoin and other markets in the world. Bitcoin was expected to hold steadily above $8,500 price area but the impulsive bearish pressure made the market more indecisive and uncertain along the way. As for the current scenario, a daily close below $8,500 will lead to further bearish pressure in the pair with a downward target towards $5,000 price area. The bearish momentum had confluence off the dynamic level of 20 EMA which undermined the bullish market sentiment. As the price remains below $8,500, further bearish pressure is expected to continue in BTC.

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