#BTC
OUTLOOK: Bearish below $8,200
Bear flag breakdown on 1hr chart, signals continuation of sell-off, but strong supp at around $8,200 (50% Fib+50DMA)
So break below $8.2K needed. if confirmed, then supp at $7787 (61.8% Fib) and $7,665 could be put to test.
OUTLOOK: Bearish below $8,200
Bear flag breakdown on 1hr chart, signals continuation of sell-off, but strong supp at around $8,200 (50% Fib+50DMA)
So break below $8.2K needed. if confirmed, then supp at $7787 (61.8% Fib) and $7,665 could be put to test.
Bull scenario: #BTCUSD 4-hour chart: A break above the descending trendline would add credence to the gradually ascending (bullish) 200MA and could yield test of resistance at $9,385-$9,400
Watch out .... 5-month MA and 10-month MA are beginning to tilt downwards in favor of the bears for the first time since September 2014
Chart also shows acceptance below 50% Fib retracement
Chart also shows acceptance below 50% Fib retracement
#BTC 4hr chart
The sharp rise from sub-$8.4 to $8.7 has established a flag-like pattern. All good, if it breaks above the falling trendline.
If it changes course again, then $8,300 would be the key level to watch out for.
The sharp rise from sub-$8.4 to $8.7 has established a flag-like pattern. All good, if it breaks above the falling trendline.
If it changes course again, then $8,300 would be the key level to watch out for.
#BTCUSD
OUTLOOK: Neutral/indecision as per ysday's doji candle
4hr chart: Another rejection at trendline would add credence to bearish MAs (50,100) and could yield drop to expanding channel supp seen around $8.3K
Bull break of channel may allow rally to $9.3K
OUTLOOK: Neutral/indecision as per ysday's doji candle
4hr chart: Another rejection at trendline would add credence to bearish MAs (50,100) and could yield drop to expanding channel supp seen around $8.3K
Bull break of channel may allow rally to $9.3K
Daily chart shows #BTC is wedged between 50MA (support) and 100MA (resistance).
50MA stands at $8287, 100MA is seen at $8837
Break below 50MA would mean sell-off from recent high of $9990 has resumed.
50MA stands at $8287, 100MA is seen at $8837
Break below 50MA would mean sell-off from recent high of $9990 has resumed.
The 5-day MA and 10-day MA continue to trend south in favor of the bears.
BTC has failed to cut through falling trendline seen in 4hr chart.
So, a break below $8596 (5-day MA) could be considered as first sign BTC is heading back to $8300
BTC has failed to cut through falling trendline seen in 4hr chart.
So, a break below $8596 (5-day MA) could be considered as first sign BTC is heading back to $8300
#BTC last 4hr candle failed to cross the descending trendline...ended on a flat note (created doji, signaling indecision).
$8,300 could be seen if the current 4hr candle dips below $8,600
$8,300 could be seen if the current 4hr candle dips below $8,600
BitMEX Chief Predicts Bitcoin Price to Hit $50,000 in 2018
There are numerous bitcoin price predictions floating out there, but when the head of a major bitcoin derivatives exchange shares his forecast, the price prediction has legs.
There are numerous bitcoin price predictions floating out there, but when the head of a major bitcoin derivatives exchange shares his forecast, the price prediction has legs.
#BTCUSD
OUTLOOK: Bearish
4hour chart: Rejection at falling trendline followed by downside break of expanding channel indicates sell-off from $9,990 has resumed.
BTC could drop below $8K and test supp at $ $7,800.
Close abv 10-day MA would abort bearish view
OUTLOOK: Bearish
4hour chart: Rejection at falling trendline followed by downside break of expanding channel indicates sell-off from $9,990 has resumed.
BTC could drop below $8K and test supp at $ $7,800.
Close abv 10-day MA would abort bearish view
#BTC created a gravestone doji on hourly chart... could be an indication the recovery from the daily low of $8,100 has ended