Daily Crypto Analysis 1/17/2018 - (BTC)

in #bitcoin7 years ago

Here's my updated chart on BTC. Selling pressure was very strong in the passed day. Due to this, zooming out further, BTC really started ramping up and rallied since mid-September at $3.5k. Taking that into consideration as the starting point up to the most recent overbought point, the target retracement of 61.8% is between $8.3k-$8.5k (A). Afterwards, expect a rally up to $12.2k (B) when selling pressure is exhausted temporarily. The final (C) leg will then either "double bottom" at (A) levels or potentially between $7.6k-$7.9k.

As you always should do with technical analysis, you should always readjust your chart if the price does not follow your projected path. More updates to come.

https://www.tradingview.com/x/6WcD1fRj/

Sort:  

Congratulations @amuroturah! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of posts published
Award for the number of upvotes received

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!