Plain and Simple Bitcoin Daily Analysis - 3/16/21 - BTCUSDT

Plain and Simple Bitcoin Daily Analysis - 3/16/21 - BTCUSDT


Bitcoin is still correcting as of this day.

Last week I called the 48500K level for a retracement, and more it goes, more this scenario seems probable.

Right now, the Vix is already very high and RSI nearly oversold so we might hope 52500 will hold well, but at this point,

That wouldn't be a sure thing.

As there is nothing fueling this dump, the indian fud gone, we might wonder why the price is suddenly dumping.

Something is going on in the dark and obviously, whales are playing the market to supress the recent price action.

Right now, this is anyhow a no trade zone.

Let's wait for the bounce validation or the 48500 dump to evaluate how to enter this market again.

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