Bitcoin Outlook May 17th 2018 Slightly in the Favour of Bullish
Daily:
Third red candle forming on the daily, as of 10 am a harami candle is forming.
Volume is quite low.
MACD is after crossing over to the downside. Next major resistance levels looking at 8400 & 8900.
8200 support level acting as a 50% Fib retracement level between 6600 & 10000. If this breaks we are looking at 7800 level as next significant support.
Managed to go from 8150 to about 8400 level yesterday from 4 pm until about 4am. Seen a sharp drop this morning at 8am from about 8350 to 8200. Been rising the last couple of hours but on lower volume . Upward trend line forming on the hourly. Higher highs & higher lows forming also on the hourly. Outlook is slightly in the favour of bullish for today but if manages to break trend line or the higher highs & higher lows pattern, outlook will be changed to neutral.
Not financial advice bros & ladies.
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