FX.co ★ BITCOIN Analysis for March 6, 2018

Bitcoin has been quite impulsive with the bearish gains recently which is expected to push the much lower towards $10,000 in the coming days. The price area of $12,000 has been quite near to the price from where it had a drastic fall below $11,000 price level as a result. The market is currently expected to push much lower inside the range of $10,000 to $12,000. The market seemed quite indecisive even today having no strong fundamental reason to break above or below the range and expected to reside inside it for a while now. But the bullish bias is still quite strong according to the market sentiment analysis. As for the current scenario, the price is expected to proceed lower towards $10,000 as it remains below $12,000 with a daily close and the consolidation inside the range is likely to continue further. A breakout is most desirable situation for the Bitcoin for further market participation now.