Bitcoin Daily Dose 3/25/19

Most of last week I had written about how I expected Bitcoin to bounce at the $3937-$3947 range and that is what has transpired. We have dropped and experienced a slight bounce at $3939. The bounce was pretty weak as of 9:00pm but it hasn’t broken downwards yet so maybe more time is needed to decipher the strength of this. At this point, if you have longed at $3940 then I would take profit at $4075 which is about a 3.3% ROI. A move up is very likely when we account for MACD and RSI as well. If this does continue to drop, I am expecting a bounce at $3870, if not, then BTC should absolutely bounce by $3740. One major silver lining is that we have failed to break that orange EMA line which is a very strong support on the 4HR time frame. If you weren’t able to get in at $3939-$3947, I would not short or long here, just wait.