Expected trading for today is between 14200.00 support and 16400.00 resistance
Bitcoin Price has recovered partially after the aggressive correction
and needs to surpass the resistance at 15400.00 to can move higher.
A Picture is Better Than One Thousand Words
Bitcoin price now is around 14950.00 and technical indicators suggest that some gains are in the cards.
As long as the price stays above the 12400.00 at the start of the fear zone, the trend is bullish.
100 SMA is still above 200 SMA so the climb is more likely to continue than to reverse.
Increased regulation from South Korea, is still keeping a lid on activity.
Moving averages reflect more bulls to the mix and sustain the upside break.
RSI indicate the price will climb to 50% FIB at 15500.00 level.
Stochastic reflect a slowdown in bullish momentum.
Breaching the resistance at 15400.00 and hold above it will push the price up towards 16400.00 level.
Note, Breaking 14200.00 level and hold below it, will put the price under negative pressure towards the start of fear zone at 12400.00 level.
Expected trading for today:
is between 14200.00 support and 16400.00 resistance.
Expected trend for today:
Bullish.
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