Bitcoin Price Eyes $7.4K After Defense of Key Support
The 50-day moving average (MA), one of the most widely tracked technical indicators, was put to test in the previous two trading days. However, on both occasions, prices failed to penetrate the MA support on a daily closing basis (as per UTC), signaling a bearish exhaustion.
Good article for all the technical analysis guys and girls out there. I like the fact that the article says it looks like selling has been exhausted, I'm exhausted watching the selling over the last few months. So, $7400 is the next target, let's see if we can get there by the end of the week. This is a great point to start moving up again, we rallied from around $6000 to $8000, came down to $7000 which is a 50% retracement, classic technical analysis move.
Read the full story here...
https://www.coindesk.com/bitcoin-price-eyes-7-4k-after-defense-of-key-support/
Bitcoin right above $7100 right now, so far so good
The path to further movement downwards is even more likely than any support at $7. Analysis here provides an objective opinion in terms of navigating future price development in Bitcoin
https://steemit.com/bitcoin/@cryptotrader0029/bitcoin-btcusd-3-key-info-to-keep-in-mind
Thanks, I'll check it out
I hope Btc jumps up a little in price as stated. It's depressing seeing it go below 7K. But the 10K target would be a huge welcome.
I'll be looking to buy a little more bitcoin as the price continues to fall :(
I hope BTC 20000$ cross in end of 2018
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Not looking likely right now :(