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RE: Bitcoin (BTC) Morning Update: Could the Bottom be In?

in #bitcoin6 years ago

This is what I have:

Bitcoin is following the pattern thus far as predicted. We are now running up against strong resistance (see RSI chart) which also coincides with .5 fib retracement at $12.6k. Today we will see if the bulls can conquer this hurdle.

If they do, we are likely to me more major resistance at $14.3k (.618 fib retracement). Should we cross this boundary and confirm on the daily, we will fly upwards to our targets. If we fail, we are likely to see $7.5k before proceeding upwards in rapid ascent.

Happy trading friends and good luck.

Screenshot at 2018-01-20 09:45:57.png

Related Idea: https://steemit.com/bitcoin/@stew/4srpht-bitcoin-update-could-rise-to-14-3k-before-dropping-back-down-to-7-5k