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hughestu
Mar 21, 2018 9:27 PM

Target $9600 

Bitcoin / DollarBitfinex

Description

The price of BTCUSD bounced off the 200-day moving average today as the MA converged somewhat with the 9k resistance level. I expect BTC should break through this resistance for a while and hit $9600 but as the price approaches the $9600 level, the downtrending resistance will cause the price to rally down thereafter. I'm about 70% confident that BTC will reach $9600. RSI on the 1D is also currently 45.8 but needs to reach 55 - 57 before it's time to sell... This will happen at $9600.

The other option is that BTC does not manage to make it out of the $9100 are and the bulls will not have provided enough confidence in the market. Prices could plummet.
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