Bitcoin is trading in the same downtrending channel (see my Mar 14 post).
The first support zone held poorly with frequent breakdowns to the downtrending line and to the channel boundary. It bounced of the channel on March 18 12pm EST but it is not strong enough to trade above the previous high $8600 and not strong enough to break out of the channel at the time of this post (Mar 19 5pm EST).
Most likely BTC will go down and will not be supported by $7600 any more. The next support level is around $6800 defined by 1) previous support in Oct / Nov 2017, 2) ascending trend line, 3) a first target of a broken down bear flag on March 14, 4) a target of a broken down bear flag on March 17.
$6800 level will lead to a fast fall to $5800 (previous support level and the second target of a broken down bear flag on March 14) and then to $5000 support level.
All this will become invalid as soon as Bitcoin breaks out of the channel and starts trading above $10000.
The first support zone held poorly with frequent breakdowns to the downtrending line and to the channel boundary. It bounced of the channel on March 18 12pm EST but it is not strong enough to trade above the previous high $8600 and not strong enough to break out of the channel at the time of this post (Mar 19 5pm EST).
Most likely BTC will go down and will not be supported by $7600 any more. The next support level is around $6800 defined by 1) previous support in Oct / Nov 2017, 2) ascending trend line, 3) a first target of a broken down bear flag on March 14, 4) a target of a broken down bear flag on March 17.
$6800 level will lead to a fast fall to $5800 (previous support level and the second target of a broken down bear flag on March 14) and then to $5000 support level.
All this will become invalid as soon as Bitcoin breaks out of the channel and starts trading above $10000.