BTC/USD Analysis and Price update 20th Feb, 2018

BTC/USD

Bitcoin resumes uptrend on 7th of Feb trading as low as $6900 which then bounced in a 15 day uptrend as shown on Fig 2 below.

BTC is expected to hit $16,000 on next target while currently trading at $11,371.

According to blocktivity.info BTC is currently using 41.65% of its blockchain capacity which means bitcoin network is not congested and no pending transactions.

Fig 1: Capacity Utilizatioin Index (CUI):
This index represents the actual blockchain usage and the remaining available capacity. Have a look at how many Tx have been recorded during a day and see how much more capacity the blockchain has left.

Fig 2: 15 day uptrend

Fig 3 The BOUNCE

CAVEAT: The analysis is based on Education, my opinion and trading decisions. Good luck and trade with caution.

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