Bitcoin is filrting with an important downwards trend-line from the high at 12499. It has broken the trend-line but is back testing it with potential for downside action. If the price starts to tumble here, we will likely test 11200- 11100 range. With a break of 11100 the next significant resistance is located at 10800- 10700. With a strong bounce off the...
After bouncing at 11000, it would be very bullish to quickly pass the mid-channel resistance at roughly 11400. I am expecting either a double bottom around 11050-11000. If Bitcoin passes 11400 with ease, the next major resistance is at the top of the channel at nearly 11650. Both are possible reversal areas but I think to get past 11400 we will need to double...
Bitcoin has respected the down-sloping channel since its high at 12499. I expect continuation until the bottom of this channel (11050-11100) before a last ditch effort at recovery towards the 11500 (top of channel). I expect a further dump at resistance to at least 10800. If 10800 breaks a move to 10400-10500 is immediately in the cards, or a recovery to roughly...
