BITCOIN FUTURES prices are approaching 11843 resistance price point for the fourth time this Month Jan 2018. Its been on this path since 16/1/18 after prices collapsed below 12793 support price level. A break above the current resistance could see prices head up to around 12793.
Quick short term update on the CME BTC1! (Futures) market.
We can see a magnificent cup and handle being painted, except it is upside down, also deadly is the h&s hidden within this cup. This gives us a high probability that the market will turn south should the market continue on this volume.
Support for Bitcoin is still at $9k to $10k on the shorter term and...
Smart investors boughthe dip. Did you?
After they went short and made good money after the rally was exhausted, but now they are getting in on the long side.
The 30 minute chart shows a good bottom formation against the down sloping pitchfork. The prices are still contained by the sliding parallel line and hence the trend is still deemed to be down.
What is more important is that the RSI is forming a negative reversal pattern which suggests that the trend may still be down. The caveat for this view is a strong...
Bitcoin Futures had a huge positive correlation for its entry point and now the correlation seems negative. This is due to an after entry crash. Also people, aren't sure about this adaptation of $BTC. However, given the recent correlations in prices, there will be some small demand for Bitcoin Futures and it is expected to go up in value the next few weeks....
the idea that may brink stabilization to BTC price:
BTC price probably behavior: Cheaper then BTC 30days>> buy now.
Expansive then BTC 30days>>> wait for entry point
This tents to stabilize the price and a less roller coaster chart in 2018.
