BTC PRICE target HiT The swing trade turned out pretty amazing which I mentioned in my last chart for BTC and before that as well.
It hits the 61.8% fibo and gives a reversal. No we can see some upside to 10,500 Target Area to reach towards the Median
line of the fork and also the trend line. For time being we can see BTCUSD on the up side but it will be a struggle for it to
break that level as over all it is still in a down trend. But for now we can take short term profit and see how the market
reacts once it reaches that level.
Priceanalysis
BTC USDT 3 Hour Chart Analysis After hitting a high at around $17,000 USDT on 1/6 and forming a double top pattern, $BTC has dipped to a low at around $13,300 USDT on 1/8, and has now appeared to form a double bottom at around the $14,100 USDT mark (1st Major Support). The dip can most likely be attributed to the recent removal of premium South Korean crypto prices from CoinMarketCap, and FUD created by the Chinese government, which may potentially ban Bitcoin mining in the country. If the 1st Major Support cannot hold, I expect the $BTC price to dip further to the 2nd Major Resistance at around $12,100 USDT. RSI indicates we are in oversold territory.