Bitcoin's Critical Time Zone

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin broke out of the downward channel but has found itself in a downward wedge .

Bitcoin needs to break out of the wedge and hold the major trend-line. If it can hold the major trend-line, the next target is closing above the 200 day MA. If we can do this, we have clear signs of a $20k re-test.

By the end of March we will be able to tell if Bitcoin held the major trend-line and is looking bullish , or if it got rejected and is seeking for new, and lower support.

Since Bitcoin has such a small market cap, it's essentially controlled by the futures market. Some entities may try to force Bitcoin to break it's major trend-line to cause fear to us real users of the technology. Who knows.

Time to watch it all play out.

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