Topic: Bitcoin Trend 08 - 01 - 2018 (Read 134 times)
Nice analysis although my resistance on my charty is a little higher. I rarely use 100 and 200 moving averages because in my experience as a trader they usually ignore it ijust use 13 and 20 EMA, i also believe that we are still bullish and i do not think that we will dip below 14k. But You are also correct that there could be a panic sell if price went down 14k.
Expected trading for today is between 14200.00 support and 17000.00 resistance
The trend look positive and the price is likely to move again above 16400.00 level.
Bitcoin price now is around 15800.00 and technical indicators suggest again some gains towards 16400.00 level.
As long as the price stays above the 14200.00, the trend is bullish.
100 SMA is still above 200 SMA so the climb is more likely to continue than to reverse.
Moving averages reflect more bulls to the mix and sustain the upside break.
Breaching 16400.00 and hold above it will push the price up towards 17600.00 level.
Note, Breaking 14200.00 level and hold below it, will put the price under negative pressure towards the start of fear zone at 12400.00 level.
The trend look positive and the price is likely to move again above 16400.00 level.
Bitcoin price now is around 15800.00 and technical indicators suggest again some gains towards 16400.00 level.
As long as the price stays above the 14200.00, the trend is bullish.
100 SMA is still above 200 SMA so the climb is more likely to continue than to reverse.
Moving averages reflect more bulls to the mix and sustain the upside break.
Breaching 16400.00 and hold above it will push the price up towards 17600.00 level.
Note, Breaking 14200.00 level and hold below it, will put the price under negative pressure towards the start of fear zone at 12400.00 level.
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