BitWater

Bitcoin Trend Remains Bullish

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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It was an amazing week for bitcoin price as it moved above the $10,000 and $11,000 levels against the US Dollar . The upside move was very strong and the price traded as high as $11,386 before it faced sellers. The price corrected sharply lower, but downsides were limited by the $9000 level. There were strong bids near the mentioned level $9000, and the price recovered very fast.

It seems like the price is preparing for more gains above $11,000. Once there is a break above a bearish trend line at $11,400, there are chances of BTC moving past $12000 in the near term. The next major target could be $12,500.

Comments

Would fit my idea with the use of the TD indicator, but don't think it will take 3 months

Reply
hasson kremsy
@kremsy, the problem is too much news around bitcoin. future contracts and so on. So. seems that correction is not a possibility right now. What do you think?
Reply
@hasson, it's bubble market. . . correction ABC it's real... Big players do shopping when others sell it ;)
Reply
kremsy hasson
@hasson, I think we will correct to about 7700, the indicators stand for it, the trade gets invalidated if a DAY closes above yesterdays ATH
Reply
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