The winter shows no signs of ending anytime soon. In March, Bitcoin experienced a small increase in price, but it was still a far cry from the February maximum. Over the weekend, the price stayed above $4000. There were no dramatic changes since our previous review: the price did not manage to test the $4166 level again, and the decrease did not test the $3880 level.
In the hourly timeframe, EMA50 overtook EMA100 from below — this is a relatively weak signal to sell. The $4000 level serves as a support level. MACD is in a neutral zone. Overall volatility is low.
In the 4-hour timeframe, the situation hasn’t changed since our previous review. The signal to buy is still active: EMA50 is higher than EMA100, MACD is in the negative zone, but is showing signs of changing soon.
Experts from Сhepicaр and a specialist writing under the username Crypto Krillin believe that Bitcoin is equally likely to increase to $5500 or fall to $3000 in the near future. Crypto Krillin believes that we will reach this ‘moment of truth’ very soon.
The moment of truth for Bitcoin is very near.
We fly straight through the cloud to 5500, or we visit 3000. I’m leaning bullish. pic.twitter.com/15a9QWXpKK
— Crypto Krillin ॐ (@LSDinmycoffee) 23 марта 2019 г.
Another expert under the username Galaxy writes that Bitcoin has the potential to increase by 35% – to $5500 – in the near future.
A new Chinese crypto ranking from the country’s Center for Information and Industry Development (CIID) shows Bitcoin losing several positions, with EOS and Tron at the top. Bitcoin has lost 2 positions and ended up in 15th place, while Bitcoin Cash has fallen to the 31st. Researchers ranked the currencies considering the following criteria: underlying technology, practical use, innovativeness.
The market isn’t in trouble yet, but it’s not in a simple position, either. Volatility is minimal, but so is the engagement of the key players. Sure, the price is moving along an ascending channel, but the slope of the channel is constantly decreasing. Our recommendations remain unchanged. The goals at the top are defined, but the bottom ones are also well-known, and there is an equal probability of a test at the top or at the bottom.