Toady's update : Now $13500
[image source: cryptocompare.com]
All stop loss trigger and downside move in channel pattern expect to touch 12500 levels.
now trading near 13500.
Volume game taking out patience for bulls.
Again good support at 12500 levels , which is previous support few days back.
In 4 hr chart still downside move, but again expecting huge short covering from lower levels.
Be cautious below 12500 levels as closing basis. Close below this levels make BTC to show more downside.
Previous Post :
Again trigger downside and touched 14120. now trading near 15300.
Strongly expecting big bounce as heavy volumes in last one days as seen in charts.
Expecting to touch my target $17500 with heavy short covering.
Short Term View Heavy volume seen, expecting reverse move, short covering.
But now support at 12500 is important levels to watch.
This Phase of BTC is in trading range of $17750 -$11300 .
Below 12500 levels bitcoin can see more downside.
Every one expecting bitcoin will move only upside, so here patience will work and wait for write direction.
Till that Buy at low levels and sell on upper levels is the right phenomena to trade.
Bollinger Band
[Image source : poloniex.com]
You can see in chart Bollinger band ,Prices in bollinger band lower channel range and making low of low till daily support 12500.
Looking to 12500 levels and then bounce at lower levels expecting.
BTC support and resistance :
Same as previous post mentions, and BTC has same range as consolidation is on in upper band and range of $17750 -$12500 exist till it will not break upward $17750 and down side braked 12500.
Volatility is high and no clear direction for long term investors.
BTC has a good support at $12500 levels.
Upside 16500 then 17000 and final 17750 level with strong resistance levels and Lower side 12500.
Here heavy selling can come and again short covering can make new highs for BTC.
My advice is to buy at low levels and sell on higher levels, play level to level as mention above.
Do your own research before trade and invest
Please leave your thoughts and feedback below!
Thanks for reading!