1. Mt. Gox released the report of the sale that started the sell-offs. They are done selling. 2. ICOs regulations FUD will end. Many ICOs have failed, will fail and that's a good thing. 3. 0.786 fib level of downward channel to 6K low of February 6th, aligns perfectly with the 0.5 level of upward channel after that. Don't be surprised if BTC -5.16% dips down to...
0.786 fib level of downward channel to 6K low of February 6th, aligns perfectly with the 0.5 level of upward channel after that. Don't be surprised if BTC dips down to test this common fib-level at around 8.8k to decide the ultimate direction.
I try to let the chart speak. Use your own judgement.
I said earlier, BTC will have to reach at least 8200 if it were to be able to climbe to 9k or higher. Now that it has reached that prediction and has faced formidable resistance at 8k, it will soon be in its way up to 9k. Stocastic and RSI show why this should happen. What happens after 9K will have to analyzed at later point. Good luck!! Again, DYOR. This is not...
It should go to at least about 8200 before it can come back up. Self explanatory for me. But, DYOR
It has been overstretching on 1 hour chart. Time for a significant pullback before it can try for any successful push upward of 9K. 1 hour chart is crying out loud this fact!