Bitcoin Trend / 02 - 01 - 2018

 Expected trading for today is between 12000.00  support and 14400.00 resistance  

Bitcoin price formed lower highs and found support around 12400.00 level.
Technical indicators give mixed signal.

A Picture is Better Than One Thousand Words

So What Next!

• Bitcoin price now is around 13300.00 and currently face a lot of bearish pressure and is trading below current resistance at 14400.00 level, supported by the negativity that appears on stochastic and any recoveries from the current levels toward 14400.00 level remains a short-term sell opportunity.

• 100 SMA is still above 200 SMA so the climb is more likely to continue than to reverse.

• Gap between the moving averages indicate bearish momentum could make a downside breakout possible.

• RSI reflect bullish momentum might be on card.

• Breaching 14400.00 level and hold above it will push the price up towards the start of buy zone at 16400.00 level.

• Breaking 13000.00 level again, will push the price to suffer more losses, towards the start of fear zone at 12400.00 level.

Expected trading for today:
is between 12000.00 support and 14400.00 resistance.

Expected trend for today:
Bearish.

Source
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