Bitcoin Forecast And Analysis For 6th March: Huge Rise Signals Move Back To 4000

In yesterday's post, I said we could be seeing the beginning of a rise back up to the source of the decline. Well, today, a huge rise has caused the price to move back to the consolidation, and it’s now looking likely we’ll see the price hit 4000 within the next few days.

At the time of this writing, the bitcoin course was equal to $3832 and the market capitalization was $67 billion.

The rise actually began not long after I posted my previous update. But it was only a couple of hours ago when a much bigger rise occurred and pushed the price back up to the consolidation. The size of this rise suggests we are in store for more up-movement over the coming days. A move back to 4000 is highly likely, but I’m not sure whether that’ll happen straight away, as the price typically needs to fall slightly before it can rise again.

For the moment I’d keep an eye on the area I’ve marked in yellow. The price is currently inside the blue area I said would probably cause a small decline in yesterday's post. If a decline does take place from this area it’ll most likely end somewhere inside the yellow area, so keep an eye out for entries if that does end up happening.