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RE: Bitcoin Price Forecast 1/23/2018
The upward move is not going to be easy, the bear flag is still on, since it is still trying to break above the critical support level shown in red at $10600, if it succeeds in doing so next upward target will be [email protected]% retrace, and after that the heavy resistance @12800, i will watch closely till then before calling bulls.
if it fails it may find support next at the previous low ($9,005), denoted by the blue dotted trendline on the chart. Just below that, we have the [email protected]% retrace, which could also be supportive. A break below the 78.6% retrace, will put the bear flag target @$7600 in BTC's sights.
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$8K BTC would suck, but it's not THAT bad in the grand scheme of things. I am very curious to know what's going to happen in 3 days when the next round of futures contracts expires (Jan 26th).
your prediction for 3 days is perfect, $11250 is around @61.8% retrace that is the next upward target i am looking at, but currently BTC is trying to break above the the red support level @10600, a break below that can pull it further lower.