Expecting Short covering in Bitcoin from lower levels for target 17500 again

 Toady's update : Now $15326

[image source: cryptocompare.com] 

Again trigger downside and touched 14120. now trading near 15300.

Strongly expecting big bounce as heavy volumes in last one days as seen in charts.

Expecting to touch my target  $17500 with heavy short covering.

In 4 hr chart still downside move, but expecting huge short covering and make bitcoin to touch 17500 levels.

One can buy near 15300 levels and after breaking above 16000 level will will fly more upside.

Previous Post :

 In 4 hr chart trigger downside move, but expecting huge short covering and make bitcoin to touch 17500 levels.

One can buy near 16000 levels and after breaking 16000 level will make is small down move  for 2-3 days, for target of  15200 levels.

Be ready for next up move after 16000 or 15200, these are reverse levels. 

My previous post target   $17500 is going to meet after touching  16000 or 15200.

Going upward and downward in momentum and now in consolidating phase.

Short Term View

Heavy volume seen, expecting reverse move, short covering.

This Phase of BTC is in trading range of $17750 -$11300 .

Above 17750 levels bitcoin can make new high.

very one expecting bitcoin will move only upside, so here patience will work and wait for write direction.

Till that Buy at low levels and sell on upper levels is the right phenomena to trade.

Bollinger Band

[Image source : poloniex.com]

You can see in chart Bollinger band ,Bollinger band channel open up with momentum and touch down bottom,

and now reverse after touching it and come up to center line. Looking to touch upper line and then upper breakout.

BTC support and resistance :

Still BTC has same range as consolidation is on in upper band and range of $17750 -$15200 exist till it will not break upward $17750 and down side  braked 14200, but not closed below 15200 and make 15200 support strong .

Daily range is getting low as price momentum is getting low and range cumming out are 16330-15200 levels.

We expect BTC will touch Upper levels levels 16500-17500 is final resistance for up momentum.

BTC has a good support at $15200 levels. Support now confirm at low levels.

Upside 16500 then 17000 and final 17750 level with strong resistance levels.

Here heavy selling can come and again short covering can make new highs for BTC.

My advice is to buy at low levels and sell on higher levels, play level to level as mention above.

                        Do your own research before trade and invest 

                        lease leave your thoughts and feedback below!  

                                      Thanks for reading!