Bitcoin Forecast And Analysis For 22nd March: Large Decline, Could See Price Fall Into Buy Area

Bitcoin Price Analysis And Market Decline

Today a large decline has caused the price to fall back below 4000, making it likely we’ll see the price fall into the buy area sometimes over the weekend or possibly even tonight.

At the time of this writing, the bitcoin course was equal to $3968 and the market capitalization was $70 billion.

The decline started an hour ago as a result (I think) of some news coming out - I haven’t seen anything so far, but it’s likely due to the size of the drop. Because of how big it is, this decline is likely to continue over the coming hours/days. I think we’ll see some sort of small rise after it's dropped a bit more and then another decline will cause it to fall into the buy area and then either reverse and start rising again or keep falling, in which case we need to watch the other buy area marked below (not seen on chart).

The outlook again remains as it did yesterday; you need to watch to see if the price keeps declining and manages to fall into the buy area. If it does, keep an eye out for signs of a reversal i.e big green candlesticks. If it doesn’t, watch the rise to see if a new buy area forms.