Most of the alt coins are pumped except bitcoin that means peoples are investing in alt coins instead of bitcoin that's why bitcoin has low volume at the moment. BTC is moving within range of 16000-1700 and it should hold its support 17155 for further upward movement. Bitcoin is up from 50MA from three days and may be it will try to touch its 100MA if there could be any pump. If bitcoin rises above 17588 a probable bullish point is anticipated. However, I believe there is a good chance that the 18000 area cannot be broken upward if money does not enter the coin market.
BTC is in triangle along with its bear flag and has almost touched its main resistance at 17400 and. Its trying to hold its main support of 17155 and for further upward movement it should hold it. Right now bitcoin volume is very low which means people are investing in alt coins which is good for market but not for bitcoin as per my thinking. Lets see and hoping for best to all peoples.
There will be volatility in this week because of Fed Chair Powell Speaks and CPI Data at Jan 12. I think there will be some upward movement for account liquidation and after that it will be dumped or may be it will not go up and directly move to down.
17155 is strong support at the moment and if breaks then 16430 will be last strong support for BTC . Bitcoin idea is still same but at the moment we need to see the breakout from triangle top and bottom. If it breaks up then expected move could be 17500 - 18000 but there could be less chances of 18000 .
In a big picture its still bearish till 13K - 14K or may be more down to 10k. Its main support is 15300 and Bitcoin has not touched its bottom till now because no one know how much it can go down but if you see the over all market and Bitcoin chart you will see that if it break 14k area then 10k will be the crucial for Bitcoin and buyers. At this time buyers and sellers both want more down.
It will be bullish whenever it will cross 30k.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
BTC is in triangle along with its bear flag and has almost touched its main resistance at 17400 and. Its trying to hold its main support of 17155 and for further upward movement it should hold it. Right now bitcoin volume is very low which means people are investing in alt coins which is good for market but not for bitcoin as per my thinking. Lets see and hoping for best to all peoples.
There will be volatility in this week because of Fed Chair Powell Speaks and CPI Data at Jan 12. I think there will be some upward movement for account liquidation and after that it will be dumped or may be it will not go up and directly move to down.
17155 is strong support at the moment and if breaks then 16430 will be last strong support for BTC . Bitcoin idea is still same but at the moment we need to see the breakout from triangle top and bottom. If it breaks up then expected move could be 17500 - 18000 but there could be less chances of 18000 .
In a big picture its still bearish till 13K - 14K or may be more down to 10k. Its main support is 15300 and Bitcoin has not touched its bottom till now because no one know how much it can go down but if you see the over all market and Bitcoin chart you will see that if it break 14k area then 10k will be the crucial for Bitcoin and buyers. At this time buyers and sellers both want more down.
It will be bullish whenever it will cross 30k.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!