Bitcoin Trend / 05-12-2017

 Expected trading for today is between 11200.00  support and 12200.00 resistance  

Bitcoin price has formed higher lows and
higher highs in a rising wedge pattern.
The price need to breach 11660.00 to activate the positive effect
of this pattern to continue the bullish wave.

So What Next!

• The price now around 11500.00 / breaching 11660.00
  and hold above it, represents key condition to continue
  the bullish wave towards 12200.00 level.

• Technical indicators are giving mixed signals, so the
  breakout could go in either direction.

• EMA50 support the bullish wave.

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

• Stochastic indicate a return in bearish pressure.

• RSI suggesting further consolidation.

• Holding above 11200.00 represents key condition to
  continue the bullish wave.

• Note, Breaking 11200.00 and hold below it, will stop
  the bullish wave and will push the price again to start
  the bearish correction.

Expected trading for today:
is between 11200.00 support and 12200.00 resistance.

Expected trend for today:
Bullish.

Source

YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.

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