Quote from: AICoin_Official on March 26, 2018, 12:15:50 PM

Minor attacks initiated by bears continue emerging on hourly chart, the market is dominated by bears as weve seen no resistance from bulls so far.

Some investors believe bull market is near the corner, but it doesnt make sense to me in logic. If price surges from here, main funds have no profits to make, as we all know, they will remain control over the market before they maximize their profits.

Volumes remain low on daily chart, indicating that even bears are not as determined as expected. Currently, price hovers around a short-term support, making it possible for price to continue oscillating move.

But if bulls remain silent and take no further actions, support will be digested and a major dip will take place after that.

Here comes the short-term conclusion, basically, price will keep oscillating, if BTC fails to surge after having been moving sideways for a long time, downtrend will be the main story.

Original by Kuang Ren, translated by AICoin Jami.

A good analysis in my opinion.

I don't think that we're going to really go up at this point. Now that we're under $8k, the resistance at $8k is extremely strong. The two attempts at breaking $9k were both unsuccessful, which is why we haven't actually broken out yet.

Most likely, we are going to go down to around $7k, stabilize there somewhat, and then see if support of $7k holds up. If that doesn't hold up and there are no major bullish outbreaks, then BTC could be going down and testing the $6k support which was the previous low. Either way, markets are extremely bearish at the moment and it shouldn't return to a bull market anytime soon, probably until May-June.