Prervious Analysis is still Valid, if we have selling pressure today, 8800-8900 can be reached, if not, the 50 day MA will prove to be resistance.
Would advise to put the buy orders in around 8900 stop-loss around 8600 as that would be a clear break of trend.
Excepting a small surge from 8800 to 10200 and then we will have the real test for BTC, giving us direction for the rest of the spring season.
It's 50/50 to me, would take money of the table at 10200 and see where this baby goes from there.
The MACD is set to converge around the first of March, as we will hit the test-zone with the downward channel and the 50MA.
If it goes up from there the Bulls are in control for the rest of Spring.
If not the bears will dictate the Market and we will probably retest 6000 levels.
Would advise to put the buy orders in around 8900 stop-loss around 8600 as that would be a clear break of trend.
Excepting a small surge from 8800 to 10200 and then we will have the real test for BTC, giving us direction for the rest of the spring season.
It's 50/50 to me, would take money of the table at 10200 and see where this baby goes from there.
The MACD is set to converge around the first of March, as we will hit the test-zone with the downward channel and the 50MA.
If it goes up from there the Bulls are in control for the rest of Spring.
If not the bears will dictate the Market and we will probably retest 6000 levels.