BTC/USD Update
Since forming a low of 5900 in early Feb we have gradually moved higher and tested the 11800 resistance which was highlighted in my previous post. Price has been rejected at 11800 twice since 12th Feb 2018 and we are now moving lower. I expect us to form a range somewhere between 11800 and 8000 although the support has not yet been confirmed since price started moving lower on the 6th March.
Key Level:
A daily close below 7700 will almost certainly see us test 5900 again.
A daily close above 11800 opens up 14500 as the next area of resistance.
Daily directional indicators are right for range bound conditions
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