Savage-chev

Bitcoin running out of steam!

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BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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After gaining approximately 190% for the last 3 months and 55% just for December without any meaningful retracement, Bitcoin seems it's overdue for a correction. Furthermore, the gains for this month are approximately equal to the gains from December 2016 lows to January 2017 highs. Also, bitcoin it's about to hit the upper borer of the broadening wedge that has been into since October. Therefore, by the end of the week on maximum the one after we shall expect a sharp correction with supports at approximately 27 000, 25 700, 23 700, 23 000 and the downward border of the broadening wedge which will be around 22 000 a week in January.

However, keep in mind we might have another push towards the 30k during the weekend or the start of the following week.

Comments

Well this aged haha. To be fair, I was thinking the same thing too
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danielfokchunhoe danielfokchunhoe
@danielfokchunhoe aged well*
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