With the recent fall in Bitcoin, the price action has been exactly following the popular stock-to-flow Bitcoin price forecasting model designed by PlanB. He expects the price to average about $8,650 until Bitcoin's halving in May. It would be interesting to see how Bitcoin behaves if the coronavirus scare persists.
76.Conversely, if the bulls can propel the price above the 20-day EMA, a move to $10,000 is possible.
If the bulls can push the price above the 20-day EMA at $237.33, which is just above the horizontal resistance at $235.70, it will suggest buying at lower levels.
We might suggest long positions after the price climbs above $237.Alternatively, if the bulls fail to propel the price above the 20-day EMA, the bears will make one more attempt to sink the price back below $209.95.
If the bulls can push the price above the descending channel, a move to $360 is possible.
If the bulls can drive the price above $360 and sustain it, a move to the next levels of $400 and above it to $430 is possible.
If the BSV/USD pair turns down from this level, the bears will make another attempt to sink it below $200.Conversely, if the bulls can propel the price above the 20-day EMA, a move to $301.43 and above it to $337.80 is possible.
Conversely, if the bulls can scale the price above the 20-day EMA, a rally to $80.2731 is possible.
If the bulls can sustain the price above the downtrend line, a move to $4 is possible.
We expect strong resistance at $4. If the EOS/USD pair turns down from this level, the bears will again attempt to sink the price below the 200-day SMA.Conversely, if the bulls can push the price above $4, a move to $4.5 and above it to $4.8719 is possible.
Price Analysis Mar 2: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK
Published on Mar 2, 2020
by Cointele | Published on Coinage
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