Bitcoin Analysis 23-02-2017
Bitcoin has been trading out of the channel that we drew recently, the bottom line of the channel was at 11000 level, and after we break also the 50 Moving average and it stabilizes below it.
For the coming trading sessions, we will continue having pressure on the bitcoin price until we see the as good positive sign.
We expect the more bearish market for Bitcoin and our next target is around 8650. while the resistance level is sitting at 10700.
The trend for today 23-02-2017 will keep bearish until we see a good movement, therefore, we will update our analysis.
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Have a good day and happy earning.
------------------------------------------- DISCLAIMER ------------------------------------------
This is not an Investment advice, your are responsible on your own trades. We do provide technical analysis for current market situation and it's a prediction for the currency price. WE MIGHT BE WRONG.
[IMAGE SOURCE: economies.com]