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BTC correction Prediction 18 March – The price could not break 8000.00 support level and bounced to the uptrend line. Will it be a short term retracement with further falling to 7000.00-6000.00 levels? Will it be a starting point for a new uptrend?
In order to get replies on these questions, we’ll have to watch closely for price action at important levels and lines. Only then we will be able to check and make BTC correction Prediction 18 March 2018.
There are two ways to look at it for BTC correction Prediction 18 March 2018–
Price Movements Signals
Price Indicators Signals
Signals from Price Movements:-
For a downward movement the price will have to reverse from the downtrend line and break 8000.00 support level . For confirmation the upward movement, the price will have to break the downtrend line. So, the downtrend line and 8000.00 support are the key levels for the market now.
Let’s keep an eye on price movements in these important zones.
Signals from the Indicators:-
The other signals, which we should take into consideration, are the signals from indicators. The price diverges with MACD and RSI and it gives us a trend reversal signal.MACD supports the upward movement. DMI shows that the bears are not so strong now.
ADX line falls and we should not expect strong price movements. But will the price move upward? The previous attempts were not successful. Now we must be very careful with any buy signals, because the market is not stable. Only strong fundamental support and solid reversal signals can be a good reason for opening long trades.
Alfaquotes.com created a mining-based formula for calculating Bitcoin Fair Value, which currently equal to $10547 on March 18, 2018.
CME and NASDAQ created BTC future market, so Wall Street can gain on BTC without actually purchase BTC. The idea is to prevent the out flow of Wall Street money into crypto. It also allow large BTC holders to sell large volume of BTC and purchase BTC future at the same time as hedging from the price fall.
Perfect idea, as a result, BTC price had falling from 19K to $8K today. Crypto traders see the opportunity, shorting BTC on margin and future trading. If this continued BTC will fall way below it fair value, miners may have problem continue mining BTC.
Today, BTC is still the earth/mother of crypto, this may change some day in the future, for now we should protect our crypto assets by protecting the fair value of BTC.
Buy BTC when it’s cheap, below fair value. Don’t let the bankers get our BTC cheap. They have more fiat then all of us combine. You short BTC under value, they can buy more BTC then we afford to.
All crypto are traded in BTC pair, that mean they get to own our altcoins and the entire crypto assets at discount. Make them pay premium!
On BTC correction Prediction 18 March- My current thought is simply, sideways movement and I think that’s ok. For long term, it’s better even. I expect sideways movement between 6000$ and 10000$. It may tighten up if it goes on for a while, think back to 2014 crash and the years following.
What do you think of BTC correction Prediction 18 March? comment below for your thoughts.