Chart shows two double bottoms and if the latter double bottom follows the former, BTC should pump and hopefully reverse to a bullish outlook. Chart also shows an ABCD pattern which also shows a bullish trend.
I expect price to reach at least $14,000 and use the $12,000 area (current resistance) as support once it breaks out.
CME contracts expire tomorrow (Friday 26 January 2018 at 16:00 London Time). I expect the bulls to take this one and relieve the pressure from BTC and all other alt-coins. Every crypto-trader knows how hard it has been to trade in alt-coins these past two weeks. A price boost to BTC should re-gain the confidence of crypto-invesetors. Expect a volume spike in alts since investors would be positioning themselves and expect prices to boost. Should be a very merry weekend.
This is not a complex analysis and I believe that sometimse we should take a basic approach in our reasoning and theories.
This is not an investment advice, always do your own research.
I expect price to reach at least $14,000 and use the $12,000 area (current resistance) as support once it breaks out.
CME contracts expire tomorrow (Friday 26 January 2018 at 16:00 London Time). I expect the bulls to take this one and relieve the pressure from BTC and all other alt-coins. Every crypto-trader knows how hard it has been to trade in alt-coins these past two weeks. A price boost to BTC should re-gain the confidence of crypto-invesetors. Expect a volume spike in alts since investors would be positioning themselves and expect prices to boost. Should be a very merry weekend.
This is not a complex analysis and I believe that sometimse we should take a basic approach in our reasoning and theories.
This is not an investment advice, always do your own research.
Trade active
$12,000 resistance is proving to be more difficult for BTC to break. Price seems to be floating between $11,000 and $12,000. ABCD Pattern is still active. No breaks has been made on either side.
Those who are deciding whether to get into crypto should be thankful for this discounted buy-in to the crypto market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.