Daily Crypto Analysis 1/17/2018 - (BTC)

in #bitcoin • 7 years ago

Here's my updated chart on BTC. Selling pressure was very strong in the passed day. Due to this, zooming out further, BTC really started ramping up and rallied since mid-September at $3.5k. Taking that into consideration as the starting point up to the most recent overbought point, the target retracement of 61.8% is between $8.3k-$8.5k (A). Afterwards, expect a rally up to $12.2k (B) when selling pressure is exhausted temporarily. The final (C) leg will then either "double bottom" at (A) levels or potentially between $7.6k-$7.9k.

As you always should do with technical analysis, you should always readjust your chart if the price does not follow your projected path. More updates to come.

https://www.tradingview.com/x/6WcD1fRj/

#blog #cryptocurrency #money #blockchain
7 years ago in #bitcoin by
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     7 years ago 

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