If we look at the price chart, then we will see a similar dynamics, where Bitcoin from the beginning of last week fell from 11,600.00 to the level of 8,500.00 which is currently being tested at a price.
This is very similar to the events in early February, when high trading volumes were accumulated at this level (8,500.00), after which it was punctured and we saw a strong impulse move down to the level of 6,000.00. This fall was caused by the comments of the authorities of the states on their policy regarding crypto-currencies and the problems of the main players in the sphere of crypto-currency. All ended with the day of the meeting in the US Senate, which broke the downward trend and Bitcoin's price rose to the old levels around 11,600.00 - 12,000.00.
Now we see that history repeats, since the beginning of the week, Bitcoin's price has dropped to 8,500.00, where it met buyer support and it trades in the range of 8,500.00 - 9,500.00. Such a market picture suggests that there is a possibility of a further decline in the near future, and until March 19-20 we will see Bitcoin at a price of 6,000.00 - 6,500.00. This will coincide with the beginning of the meeting of finance ministers and governors of the G20 countries on crypto-currencies and it will be possible to consider buy's for the long strategy.