20.03.201817:12 Forex Analysis & Reviews: BITCOIN Analysis for March 20, 2018

Bitcoin has been quite slow today having less pressure on the either side of the market. The price is still struggling at the edge of the $8,500 price area from where it is currently expected to push higher towards $10,000 in the coming days. As of the recent G20 Meeting, it was quite hawkish with their statement around the crypto industry, the confidence of the market participants in Bitcoin seems to be quite positive now. The overall crypto market is recovering from the massive fall recently which is expected to sustain a long-term growth in the future. Though the expected bullish pressure was not quite observed today but as the price clears above the $8,500 price area with a daily close in the coming days, impulsive bullish pressure is expected to push the price higher towards $10,000 price area. As of the current scenario, as the price remains above the $7,500 price area, the bullish bias is expected to continue, and on the other hand, a daily close below $7,500 will lead to bearish pressure in the market which is not quite likely in the current situation.