Short Technical Review on BTC

in #bitcoin6 years ago (edited)

In the past few days, some bad news shook the cryptocurrency markets. Since I believe you know developments from South Korea and some others, I want to mention something else. I believe it is a Wall Street-based consultancy firm, Quinlan & Associates, published a report which valuates bitcoin at around $1800. I personally think that mentioned report is really an important one which reflects the road-map of the financial authorities. So, please consider that we might get on the bitcoin train from very cheap prices maybe following media broadcasts, hacker activities or G20 or whatever. For now, those bad news are getting out of sight, since new and good ones replace with them. The market made me feel it will go up for a while, let's see.

Previous support and resistance levels are working perfectly. You can see those and extra ones at today's chart. I defined 3 reasonable scenarios with their support and resistances.

ScenarioTarget 1Target 2
Pink (bullish)11950.0013130.00
Red13130.0011000.00
Turquoise (bearish)11000.009430.00

18.01.2017-5.PNG

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I could see this happening, I'm in for a deep hodl either way. It's gonna be an interesting year for crypto, that's for sure.

Yes indeed panic is the last thing to do, it's going to be very interesting year. I hope blockchain technology will be the winner and bring into our lives those expected changes and innovations.

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