State of Mind - March 15th

New day on the crypto planet!

What's new ?

The least we can say is that the last few hours have been full of surprises for this market. The total market capitalization went from a peak of $377 billion yesterday to a low of $312 billion this morning. The market cap is now back to the $332 billion level.

The Bitcoin broke its resistance to $8580 yesterday at the end of yesterday's trading session and went down to the $7666 level overnight before picking up again and passing back over $8000.

What can we expect from this situation in the next trading sessions?

Well, even if prices briefly fell below this daily support at $7733, the BTC could rebound on this level and head towards this long-term downward trendline. The closest resistance level is $9425. If it is crossed, this would allow the BTC to resume bullish momentum. Nevertheless, we must be patient because the rebound has to be confirmed by a MACD crossing, which is still not the case. So be even more cautious in this turbulent market

It would be easy to panic, but keep in mind that new opportunities will come soon!

If you decide to enter the position, please don't forget your stop-loss!