Bitcoin Trend / 27-10-2017 Midday Update

 Expected trading for the rest of day is between 5700.00  support and 6300.00 resistance  

• Bitcoin price keeps rising after consolidating above 5422.00 level and formed solid support at 5422.00 / 23.6% Fibonacci Correction.

• Bitcoin price is trying to keep up its rally, but there are signs of bullish exhaustion and a potential reversal pattern.

• Technical indicators suggest the rally could stall. If so, a head and shoulders pattern could form.

• Breaching 5935.00 level and hold above it, confirm extending the bullish wave towards 6300.00.

• Breaking 5422.00 and hold below it, will cancel the bullish trend and will push the price to test 4950.00 level before any new attempt to rise.

Expected trading
for the rest of day is between 5700.00 support and 6300.00 resistance.
Expected trend for the rest of day: Bullish.

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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