$BTCUSD Ranging market testing support and resistance

31 Mar 2018

Since price failed to capitulate lower near the 5.5k-6k range and seems to be coiling up now. It is poised for a move in the upward direction near 7.8k-8k. It will almost certainly be rejected at that price and come back to test the 6.5k-6.7k support. It could bounce between these two levels or possibly make a play for 9k. After that is anybody's guess. But fail to break 9k and the bear market continues.