Bitcoin Trend / 11 - 01 - 2018

 Expected trading for today is between 11200.00  support and 14200.00 resistance  

Bitcoin price under negative pressure trying to break 13100.00 level,
and technical indicators, are signaling bearish pressure.

A Picture is Better Than One Thousand Words

So What Next!

• Bitcoin price now is around 13300.00 and still under negative pressure supported by EMA50.

• Breaking 13100.00 level and hold below it, will move the price probably towards 11100.00 level. If this happened, I believe the buyers will return and push the price from 10700.00 - 11000.00 level ( significant support ) to the upside.

• 100 SMA is below 200 SMA so the bearish wave is more likely to continue than to reverse.

• RSI indicate selloff momentum.

• Stochastic indicate selling pressure.

• Note, Breaching 14400.00 level and hold above it, will cancel the bearish wave and will push the price to resume the main bullish trend again.

Expected trading for today:
is between 11200.00 support and 14200.00 resistance.

Expected trend for today:
Bearish.

Source

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