Bitcoin Price Prediction for March 30, 2016
Mar 30, 2016 --- (ARCHIVED) Free Reports
Despite a false breakout from the 6-hour triangle last weekend, the 12-hour triangle remains fully intact like the daily one is. We can see clearly that price still wants to remain in the middle of this 400 - 430 $ contracting range for the time being as this is where the 200-period SMA, volume profile PoC, and SCMR dynamic support all sit.
Additionally, Willy is finally moving back to the downside and is about halfway to where we want it, while RSI and the Stochastic continue to recharge. Lastly, and most importantly in our opinion, is that fact that price is languishing on weak momentum, but the A/D line continues to press to the upside.
This is signaling an accumulation at current levels, which tells us that the market is being made to favor large players who want in at better prices.