Bitcoin Price Prediction for 3/16/2016
Mar 16, 2016 --- (ARCHIVED) Free Reports
Market Commentary (BTC):
We think it is safe to say that the 415 $ price level for bitcoin is now a pivot point for near term market direction. Fear seems to set in when we get too far below that level which persuades traders to exit longs at the bottom, while euphoria seems to take hold whenever the market gets a few bucks above there for more than a few minutes which washes out shorts.
This should come as no surprise given the market remains in a tightening consolidation in which 415 is the precise midpoint between the key 430 $ resistance level and the critical 400 $ support area.
Over the next few days the market will decide in which direction it will truly resolve...