Bitcoin (BTC/USD) Trading Analysis 14th November 2017 [10:10 UTC]

Bitcoin Analysis

What a difference a day makes. There was a bounce, a recovery from the support way, way down. The resistance however is still causing to be somewhat of a problem at @6900. Looking at the 4hr, which tells us more than what the daily [don't bother looking at daily analysis on BTC/USD], we notice that there is a point of doubt [created by the small triangle]. This triangle is like a mini pressure cooker, getting tighter and tighter. Some just fizzle and turn into consolidation and collapse. Others pop and fizz. Right now my money is on consolidation, as we've had a strong bounce, we've got some clear resistance @6900 and those that trade BTC/USD are licking their wounds.

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