Bitcoin Forecast And Analysis For 16th March: Rise Indicates Possible Move To 4000

The consolidation the price has been in for the past few days is over. A sharp rise earlier today has caused it to end, and the price is now heading back towards 4000.

Bitcoin Price and Market Capitalization Analysis

At the time of this writing, the bitcoin course was equal to $3895 and the market capitalization was $68 billion.

Whether or not this rise actually manages to push the price all the way back to 4000 remains uncertain. It’s pretty sharp, which suggests it will. However, it’s impossible to be sure, so we’ll have to see how things go. There is quite strong resistance around 3910 that could cause a small (or big decline) when the price gets there. But until it does, there’s no way to know if it will or not.

For now, watch how the price reacts once it reaches 3910. If you see a sharp decline (big bearish candlesticks) then a drop back to the consolidation is possible. On the other hand, if the price rises past it without much trouble expect to see it hit 4000 in the coming days.