Standard Moving Averages: BTC currently under 200 MA. Full pullback.
Fibonacci Retracement: drawn from recent low Feb 5th to Recent High March 5th.
1=$6,102
0.786=$7281
0.618=$8,207
0.5=$8858.4
0.382=$9,508.8.
Bollinger Bands: currently widening up. Price volatility coming in.
RSI: Currently RSI 36, not too oversold. RSI descending, which seems like the price will go lower.
MACD: dead cross formation. on level -469. MACD indicates bear trend.
Double top formation on $11,790, and then bear trend formation from there on. $11,790 will be a heavy resistence line.
Conclusion: the BTC will pull back to $7,281, and then $6,102. $6,102 will be a heavy support line, which will be a good buy opportunity. A good chance that price will go even lower from here. Long term bear trend continuing on.
Fibonacci Retracement: drawn from recent low Feb 5th to Recent High March 5th.
1=$6,102
0.786=$7281
0.618=$8,207
0.5=$8858.4
0.382=$9,508.8.
Bollinger Bands: currently widening up. Price volatility coming in.
RSI: Currently RSI 36, not too oversold. RSI descending, which seems like the price will go lower.
MACD: dead cross formation. on level -469. MACD indicates bear trend.
Double top formation on $11,790, and then bear trend formation from there on. $11,790 will be a heavy resistence line.
Conclusion: the BTC will pull back to $7,281, and then $6,102. $6,102 will be a heavy support line, which will be a good buy opportunity. A good chance that price will go even lower from here. Long term bear trend continuing on.