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Long

Bitcoin BTC USD Forecast - Is this the end?! Reversal Attempt #2

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Chart shows two double bottoms and if the latter double bottom follows the former, BTC             should pump and hopefully reverse to a bullish outlook. Chart also shows an ABCD pattern which also shows a bullish trend .

I expect price to reach at least $14,000 and use the $12,000 area (current resistance) as support once it breaks out.

CME contracts expire tomorrow (Friday 26 January 2018 at 16:00 London Time). I expect the bulls to take this one and relieve the pressure from BTC             and all other alt-coins. Every crypto-trader knows how hard it has been to trade in alt-coins these past two weeks. A price boost to BTC             should re-gain the confidence of crypto-invesetors. Expect a volume spike in alts since investors would be positioning themselves and expect prices to boost. Should be a very merry weekend.

This is not a complex analysis and I believe that sometimse we should take a basic approach in our reasoning and theories.

This is not an investment advice, always do your own research.

Trade active: $12,000 resistance is proving to be more difficult for BTC to break. Price seems to be floating between $11,000 and $12,000.

ABCD Pattern is still active. No breaks has been made on either side.

Those who are deciding whether to get into crypto should be thankful for this discounted buy-in to the crypto market.
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