Daily Crypto Analysis 1/14/2018 - (BTC)

in #bitcoin2 years ago

I updated my BTC chart to take into account the previous day's worth of pricing data. BTC looks like it may be on a steady decline with multiple bull traps. The Fibonacci retracement tool shows too that BTC's bull run since $6.5k has a 61.8% retracement at about $10.3k. There are still opportunities to trade/hedge BTC using this price projection by parking your BTC in USDT and/or any alts that are bullish against /BTC pair when it approaches resistance at around $15.2k.

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.