Bitcoin Technical Analysis 2/13/18

in #bitcoin6 years ago

Bitcoin Technical Analysis 2/13/18
By: BunLogic

What a day! From the picture below we can see that the $9,000 resistance are putting the bulls to a completely stop. Not to say we can’t break this resistance, but this allows us to do some short term trades.btc1.JPG

The $8,633 seems to be losing steem (teehee). We can see two scenarios here.

-Either a small up ward moment to test the ~8750 resistance
-or downward moment testing this upward trend line.
If BTC rallies around this trend line, we can see a quick up thrust surpassing the 8,700 zone. If volume doesn’t pick up We will end up testing this soft 8,307 resistance.

btc2.JPG

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If you were following this trade and bought at around the 8400 zone you should be at about 3.5% profit, you can either sell for profits, or add to your postion as we may be testing the trend line again.
btc5.JPG

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