Bitcoin Technical Analysis 2/13/18
Bitcoin Technical Analysis 2/13/18
By: BunLogic
What a day! From the picture below we can see that the $9,000 resistance are putting the bulls to a completely stop. Not to say we can’t break this resistance, but this allows us to do some short term trades.
The $8,633 seems to be losing steem (teehee). We can see two scenarios here.
-Either a small up ward moment to test the ~8750 resistance
-or downward moment testing this upward trend line.
If BTC rallies around this trend line, we can see a quick up thrust surpassing the 8,700 zone. If volume doesn’t pick up We will end up testing this soft 8,307 resistance.
Thanks for reviewing my post, and please leave your feedback.
If you were following this trade and bought at around the 8400 zone you should be at about 3.5% profit, you can either sell for profits, or add to your postion as we may be testing the trend line again.
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