Joseph_Yabwa

Let Me Paint A Picture For You! BITCOIN UPDATE

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
So what is bitcoin really up to? We have stuck in this 8100-10500 range for a month now and the market hasn't budged. So what's going to be bitcoin's next move? If you ask me then you only have to look at the chart and see that in my opinion there's a good chance that bitcoin will head a bit lower before we take off. We have a support level around 6500 and this also happens to be the 61.8 Fibonacci retracement of the recent bullish impulse and also this will lead to the market forming a reverse head and shoulders pattern, so this will probably be the best area to go long. So let's wait and see what the market will do!

Good luck guys
Comment:

Comments

Thank you Joseph. Good analysis.

I think BTC is waiting to see where the markets are headed later today.

A steady decline in the market next week could certainly lead to a 6500 range.
+1 Reply
Possible scenario.
+1 Reply
@Jad-87, Yeah, absolutely
Reply
Thanks for Your work!💪🏻
Reply
Joseph, I myself have been wondering for the past few months whether or not the right shoulder would form. Lets see what happens this year!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out