Market Review. Results of the Day. A Sharp Reverse
March 20, 2018
During the weekend, BTC, BCH, ERC, and XMR fell to their February lows. DASH, ETH, IOTA, NEO, XRP, ZEC fell to their 2018 lows. However, after these falls, a sharp reversal has happened.
Bitcoin broke out the resistance level of $8,200 and exited from the medium-term falling trend. However, it failed to take the next resistance level of $8,500, and the price returned to $8,200. If the cryptocurrency eventually overcome this level, them the target is $9,600. It is better wait with short positions. One can look for buying positions at the price above $8,500.
An interesting fact: for the first time in a long time the trading volumes grew along with the prices. Last time it happened in February 14, and then Bitcoin had grown from $8,460 to $11,742 in the next seven days.