Technical analysis Bitcoin BTC/USD - 11.02.2018

Over the past week, Bitcoin's capitalization increased by more than 10 billion USD, while BTC's dominance fell by less than 1 percentage point. In the last 24 hours, the BTC course stays almost in place. The first 6 weeks of the new year turns out to be a great test for "hodlers".

The price of Bitcoin reached the level of 6,000 dollars from where the correction began. The course has broken the top of support, which we have repeatedly written at the level of 7 900 dollars. The price, however, still moves in the inheritance channel and in addition is in its lower limit. Until we leave this channel from top, we can not 100% talk about taking long positions.

For the more risky players, we have set a relegation wedge. After knocking it up, you can look for a place to buy. The perfect place seems to be breaking up the $ 9,500 support and testing this place from above. Alternatively, we recommend selling after re-knocking $ 7,900 and testing this place from below.