BITCOIN UPDATE: Could rise to 14.3k before dropping back down to 7.5k!
Good morning Bitcoin traders.
Bitcoin is following the pattern thus far as predicted. We are now running up against strong resistance (see RSI chart) which also coincides with .5 fib retracement at $12.6k. Today we will see if the bulls can conquer this hurdle.
If they do, we are likely to me more major resistance at $14.3k (.618 fib retracement). Should we cross this boundary and confirm on the daily, we will fly upwards to our targets. If we fail, we are likely to see $7.5k before proceeding upwards in rapid ascent.
Happy trading friends and good luck.