Bitcoin Trend 31-01-2017

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The tight range dominates Bitcoin price  recent trading, keeping its stability above the EMA50, and the price  needs enough positive momentum to push trading to resume the bullish  trend, which its targets begins by breaching the neckline of the  inverted head and shoulders' pattern at 934.00 to open the way to head  towards 1050.00.   

Therefore, our bullish overview will  remain valid on the intraday and short term basis, reminding you that  breaking 851.00 level will stop the expected rise and push the price to  target 779.00 areas before any new positive attempt.   

Expected trading range for today is between 870.00 support and 1000.00 resistance   

Expected trend for today: Bullish 

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