Short covering will come soon and up side momentum will continue till 17500 levels

 Toady's update : Now $16231

 [image source: cryptocompare.com] 

Buy at support levels near 16000 levels for target  $17500 to Upside side. 

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.

Previous Post :

 My Next target is $17500 to Upside side.  

My upper targets achieve 16200, but still resistance not ruled out.

After resistance 17750 will break then BTC can touch new highs.

Still Resistance levels are strong at 17750. 

Till that levels we can create shorts ,but now ranges are shifted  to 15500 to 17750.

Both levels will make decisive move in either side. 

My previous post target   $17500 is going to meet next 2-3 days.

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

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

Above 17750 levels bitcoin can make new high.

Every 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 , price again breaking down band channels forming reverse bounce pattern.
So wait for up side and consolidate at previous levels 17000 to touch.

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  15200 give support according to support and Resistance.

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                   

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                                          Thanks for reading!