Bitcoin Trend 23-01-2017

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Bitcoin price attempted to break the  intraday bullish channel's support but the EMA50 succeeded to form solid  support base that stopped the price negative attempt, to rebound  bullishly and attempt to return to the bullish channel again, which  supports the continuation of the bullish trend scenario on the intraday  and short term basis.   

Stochastic provides clear positive  signals on the four hours' time frame, which reinforce the chances of  achieving more gains in the upcoming period, noting that the waited  targets begin at 990.00 and extend to 1050.00, while the price needs to  hold above 851.00 to continue the suggested positive scenario.   

Expected trading range for today is between 885.00 support and 1000.00 resistance   

Expected trend for today: Bullish 

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