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Traderscope
Jan 16, 2018 4:07 AM

BTCUSD The party is over. Next target at 7500 ! Short

Bitcoin / U.S. dollarBitstamp

Description

BTCUSD gives some weakness signals for days. We noticed that the pairs has broken the support line of the ascending channel H4 (green lines) and has integrated a new descending channel H4 (red lines). Below 13000, we think that the pair will fall until 7500 in the next hours or days. At 7500 we expect a reaction to look for long opportunities.

Comment

As expected, Bitcoin has broken 13000 support. Next target to look for a long should be 7500.
Comments
Bartdeking
way to much resistance we BTC just passed the ATH resistance line created since mid 2016 and broke end of November.
11300 more likely ;)
PNUTTY
Hey nice graph. I agree Bitcoin is showing more weakness than strength these days.
6k-9k range is definitely a possibility.

Mind you, Bitcoin also never fails to surprise the hell out of everyone.
Traderscope
@PNUTTY, I agree. Thanks :)
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