Bitcoin at Critical Support, Heading Towards $6,000 Now or is it Ready to Bounce?

Bitcoin is in a firm bear hold. It has declined around 55 percent from its high. With the current fall, the digital currency has reverted near 78.6 percent of the most recent leg of the rally. We discover first indications of purchasing at $8000 levels.

In 2017, the RSI tumbled to the oversold levels (around 30) on three events and every one of them turned out to be a decent purchasing opportunity. By and by, the RSI is near the oversold levels. In this manner, there is some probability of a base arrangement around the present levels.

Forceful buyers can purchase between $8,600 to $8,600 and keep a stop loss of $7,800. The pullback can lift the BTC/USD combine to the resistance of about $10,700.

The following leg down will affirm a base in the crypto world, in the event that it doesn't break the current lows of $8,000. On the off chance that the lows break, the downtrend can stretch out to $6,000 levels.

see full article https://cointelegraph.com/news/bitcoin-ethereum-bitcoin-cash-ripple-stellar-litecoin-nem-neo-eos-price-analysis-february-2-2018

Disclaimer: This is opinion not financial advice.