Bitcoin Price Prediction for 3/21/2016
Mar 21, 2016 --- (ARCHIVED) Free Reports
Market Commentary (BTC):
Relatively speaking, this past weekend was rather benign in terms of price action even though we did get the expected pullback into the low 400's $. Following a breakdown below 410 $, the Chinese exchanges went ahead and broke the daily triangle to the downside.
The end result of this breakage was positive for the bulls as panic selling failed to materialize en masse, and the ice is now already broken in case the Western exchanges decide to follow. This would not surprise us given that a majority of the bitcoin community sits on pin and needles under the assumption that we break lower.