Bitcoin Price Forecast March 15, 2018, Technical Analysis

BTC/USD

One of the biggest drivers of money into the Bitcoin area was that it moved so quickly, something that we are no longer seeing. At this point, 5% moves are about as good as it gets most of the time, unless of course we see massive selling. I think that’s going to continue to be the theme, and with Google now announcing that they will no longer offer advertising space to crypto currency related fields, this is yet another reason to think that perhaps this market is going to struggle going forward. I think that rallies at this point are to be sold, unless of course we somehow break above the $10,000 level. Currently, I think $8000 is the next target, and then $7000.

BTC/USD Video 15.03.18

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BTC/JPY

Bitcoin also fell against the Japanese yen, struggling with the ¥1 million level. I think that the market will continue to find plenty of negativity, and with the strengthening Japanese yen overall and a bit of a “risk off” session during Wednesday, it makes sense of this pair will continue to drop. This is the most important crypto currency chart, because the country of Japan is 40% of Bitcoin trading around the world. If this pair falls, that will not only drag Bitcoin down, but many other coins. It’s not until we break above the ¥1.1 million level that I would become comfortable buying, something that I don’t anticipate seeing.

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