trader0225

trader0225

Short term support to hold in order to continue moving up. Must not go below the trend line drawn. Short term targets: 14,500 15,000 16,700

trader0225

Bitcoin is currently in its consolidation phase with 12,000 and 12,500 holding as support and triple bottoming in this area. We are in a short term down trend which means we could see a further move down. Levels to watch are 11,700 10,000 9,000 8,000 and 6,000 is not unrealistic. At 6,000 we'd be breaking through the long term trend line but it has happened before...

trader0225

BTC has broken out of the downtrend but an ABC correction is still very plausible. The main area to watch will be 16,800-17,000. If this area is not broken through with strong volume, then it is very likely BTC will continue to consolidate and possibly drop down to retest the low of 11,000. If it breaks below 10,000 then 8,000 is very much in play. A strong bounce...