Bitcoin update

9 Mar 2018

Hey guys ! as expected (not so fast but expected) the $ 9000 (78.6 Fib. Retr.) support has broken and dropped to $ 8350 support, here has formed a first bottom but will not be long. I expect further price hikes in the direction of $ 6000 support line next week. I think it's very unlikely to see further price drops below this line, if so Bitcoin will take more than a year to reach prices beyond $ 10000. However, I see a W education there, which often leads to a sharp rise in prices. If after the second bottoming at $ 6,000 there is no breach below $ 6,000, I am very optimistic that we will face a bull phase. The bull phase will fall back to $ 10000 on the $ 12000 resistance line.

However, when the W forms, you have to reevaluate the entire market, so let's be surprised by the next week, which will be largely responsible for the medium to long-term move.

Have a nice weekend guys !

Regards

Danny