Important levels are outlined in the chart
-50 day moving average
-100 day moving average
-200 day moving average
-downtrend line from all time high
If these resistance are broken I would expect another bull run, possibly extending to a new high, I will make a new chart based on reaction at resistances
I still think drop to as low as 5k can result in a bullish 2018 for BTC, and in fact I am expecting this outcome
-50 day moving average
-100 day moving average
-200 day moving average
-downtrend line from all time high
If these resistance are broken I would expect another bull run, possibly extending to a new high, I will make a new chart based on reaction at resistances
I still think drop to as low as 5k can result in a bullish 2018 for BTC, and in fact I am expecting this outcome
Note
finder.com.au/goldman-sachs-a-bitcoin-selloff-now-threatens-to-drop-bitcoin-6000 Forgot to post this link which refers to the leaked targets for Goldman Sachs clients looking to invest in Bitcoin. Sheba Jafari did call for new low if this area did not hold, however, every technical analyst is now watching to see if this double bottom Adam and Eve pattern holds.
Note
the fibo comes from the start of the longterm log trendline, lots of convergence up here at 10k, could be a big short, watching closelyRelated publications
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Related publications
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.