Bitcoin 2016 prediction March 4th downtrend continues!
Bitcoin 2016 prediction March 4 downtrend continues. Taking a look at the above 4 hour chart of Bitcoin we can see a pretty steep downtrend forming not a good sign short term for Bitcoin bulls. It took out support at $420 and looks like it will test new support at the $385 range. If we don’t see a big move to $425 I’m pretty sure it will test that support level. What’s causing the selling? It looks like the news that transactions are taking a long time is affecting the price.
The above chart is a 15 minute of Bitcoin displaying some entry and exit points to trade the current downtrend. To learn more watch the video below.
I don’t own any Bitcoin this is just hypothetical trading and analysis of Bitcoin and the trends I see.