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Bitcoin: Why BTC May Drop to $18,400 in March
Bitcoin (BTC) risks breaking the January trend line today at $22,150. It’s holding below it on the 4-hour chart, but a daily close would begin to solidify the breakdown. However, BTC has looked relatively weak all month, with the market trading below the monthly pivot at $23,130. I mentioned the levels’ significance in the recent weekly crypto forecast. The longer Bitcoin trades below the $23,130 monthly level, the more bearish I become. A daily close below $22,150 today would offer bears additional fuel toward the $21,500 support level. But if we start to see Bitcoin take out these support levels on the higher ... (full story)
