Bitcoin Forecast And Analysis For 27th March: Sharp Decline, Price Rebounding From Buy Area

Last night a sharp decline made the price drop dramatically. The decline caused the price to break through the blue area I said to watch in yesterday’s post, and it’s now close to the blue buy area that formed last week.

At the time of this writing, the bitcoin course was equal to $3910 and the market capitalization was $69 billion.

A small rise has since taken place form this buy area, which could be the beginning of a reversal back to 4000. It’s too early to say whether this is the case or not - another rise is in progress as we speak - but if a sharp rise does take place over the coming hours it’ll be a good signal this buy area is the bottom, and that the price is going to keep rising to 4000.

For now, watch what the price does over the next few hours. If it keeps rising, it’s likely a move back to 4000 is on the cards. If it falls deeper into the buy area, it could signal a rise or further decline - we’ll have to watch what happens.