Technical indicators are showing the bearish momentum could dip Bitcoin near the $7,300- 7,100 zone. Here is the 29-30 March Bitcoin Technical Prediction.
29 March, AtoZForex – Bitcoin or BTCUSD trading near the three months low below US $7,500 level. The coin continually losing the total market cap and pitched below the US $ 137 Billion market cap. Moreover, in the last 1 Week, the price has moved by $ -1,153.32 (-13.31%) with a total volume of over US $ 6.16 Billion. The highest price, $ 9,036.23, was on Saturday, 24 March 2018. The lowest price, $ 7,459.18, was on Thursday, 29 March 2018. Will the Bitcoin Price stabilize near the US $ 7500 zone?
29-30 March Bitcoin Technical Prediction
Among Bitcoin the investors and traders the fear of geopolitical risks stemming from trade negotiations and Trump’s meeting with North Korea’s leader. Also, Twitter has moved to ban ICO ads on its platform following the Google AdSense and Facebook Inc, leading to speculations of lower investor interest and activity. Additionally, Reddit has also disabled the bitcoin payments. Along with the technical indicators, the fundamentals too are not supporting the Bitcoin.
However, I expect Bitcoin for the long-term investments seems to be on the Positive side.
The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. Thus, the bearish pressure could continue this week. According to Fibonacci retracement charts, the BTCUSD pair failed to cross the 23.6% Fibo retr. zone and broke the daily strong support, i.e., $ 7500 level. Thus, most probably the BTCUSD pair might continue to dip towards US$ 7,300 - 7,100 in few days.
The relative strength index(14) value is below 50 - Selling Signal in daily timeframe.
The CCI(14) valued at -137.21 which signify selling signal in the daily timeframe.
The STOCHRSI – Oversold in the daily timeframe.
Moreover, according to ATR(14), the BTCUSD pair is Less volatile.
The Bitcoin has significant weekly support near $7734 level and resistance near $8127 level.
BTCUSD Daily Pivot Points
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