Bitcoin Chart Analysis March.6

Since our previous analysis and overview, we have reached a resistance level at $11,700, which could end up to be a double-top (bearish sign) along with the high of February 20. To continue upward, we’ll need to see a break of the $11,700-12$K zone. This will set immediate targets at $13K and then $15K area.

As of now, Bitcoin broke the support level at $11,200, on its way to the next support area at $10,800. Volume is average, and Stochastic RSI oscillator might indicate on possible correction back up to $11,200 for the next hours, before deciding on direction. Breaking down the $10,800 support level will probably send us to test the $10-10,300 area again.

BTC/USD BitFinex 4 Hours chart

BTC March 6

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Source: Crypto Potato