Will Bitcoin break 8600?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has been in a significant upwards move in the last couple of days and has now neared the logaritmic downtrend resistance. The RSI on the 4 hour is overbought and the daily RSI is hitting resistance right now. Also the market has greatly turned euphoric, pointing to atleast a small correction. Knowing how fragile this market is this could quickly snowball into a big dump draging us towards 5K and eventually 4.5K touching the long term log support and building a parabola from there on. I would advise on using tight stoplosses.
I agree with you.
+1 Reply
disobey disobey
My target zone is 3000-5000.
+1 Reply
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