#BTC UPDATE (BREAK OUT) 2.16.2017

#BTC after having a long correction downwards at the completion of wave 5, and with slow but steady move upwards from the 6k level few days back, finally broke out of the trendline resistance above the 10k level today.

The 10k resistance level is a psychological level, and a sustainable break above this level will spike up activities that will attract fresh funds into Bitcoin pushing the price further up above the 61.8 fib level to the next trend line resistance at 12k.

Price should consolidate a bit at 10k level before pushing towards the 12k level and a rise above the 61.8 fib retracement level after a little correcetion will surely see price breaking past the 12.8k resistance straight to the 14k level.

A brief correction from 14k back to 12.8k support should be expected. After a little consolidation again at the 12.8k level, Price should move strongly again to the 14k level up to the 17k area before we experience a new ATH.....

This analysis is however based on our own personal opinion and BOJ....... we may be wrong, but one thing is certain; ''OFFICIAL BULLISH TREND HAS JUST BEGUN FOR BITCOIN''🚀✈️😜👍 💃🍦🍹

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