We have some reason to believe bitcoin will fall in the next few days. 1. Probable formation of head and sholders. 2- Low bull power. 3 - High support line has been broken. 4- RSI indicator on the daily chart is almost record in recent days.
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Also we have a difference of 1000 dollars (6%) between the exchangers Bitfinex, Poloniex and Bittrex.
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Português version: 1- Provavel formação de ombro cabeça ombro. 2- Baixa força compradora. 3- LTA quebrada. 4- Indicador RSI com valores muito altos no gráfico diário. 5- Diferença de mais de 1000 dólares (6%) no preço do bitcoin entre bitfinex, poloniex e bittrex.
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Touch support line
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Near support line and UP. Low buy volume.
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Price moving up, but the buy volume continues low, indicate the fall continues.
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(see image attached) The high volume red towers confirms high sell volume. We have a try to break the main upline, but not sucess full, because low buy power. Now a new upline has break.. But careful, now we are in decision zone while price betweel 17000~16150. A new fall channel beggin created, look the new down lines.
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We dont have a new break line yet.
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Becareful. Entered in indecision zone. 1700~16150.
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One more attempt to break support.
Trade closed: stop reached
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BTC breaked the main upline,the short analytic has been end.
It would certainly be healthy for Bitcoin to drop to 12000, but we'll see.
Phattyoshis
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Looking spot on so far! There is a 1000 BTC sell wall on GDAX @ 17250 that is scarying away buyers anytime it even gets close, so now people are just selling and waiting for the bottom of the correction.
veghtiborfoto4e
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Thank You!
veghtiborfoto4e
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Thank you for the analysis. please update every day