Bitcoin suffered double-digit losses this week after the U.S Securities and Exchange Commission issued a severe warning to Cryptocurrency investors. How is the BTCUSD pair currently trading? Study the 9 March BTCUSD Price Technical Forecast to see how.
The BTCUSD pair had suffered repeated technical failure around $11,500 in early-week trading and plunged over ten percent in the hour after the announcement from the SEC.
In the broader Cryptocurrency market, Dash, Ripple, Bitcoin Cash and Litecoin suffered from low trading volumes in early-week trading, whilst later incurring heavy losses following the SEC's warning to investors.
9 March BTCUSD Price Technical Forecast
- The BTCUSD pair remains bearish while trading below the $10,150 level, further losses towards $8,100 and $7,300 seem possible.
- If the BTCUSD pair trades above the $10,150, an upside recovery towards the $10,800 and $11,500 level may occur.
This article about 9 March BTCUSD Price Technical Forecast was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.
Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.