DailyForex
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Bitcoin Analysis January 30, 2018
Bitcoin markets drifted a little bit lower during the day on Monday, as we continue to see the volume drop in this market. It looks as if the 50% Fibonacci retracement level continues to offer support, which is just above the $10,000 level. The $10,000 level of course is psychologically important, and an area where we have seen buyers come back into this market. However, until we see volume pick up with a move higher, I’m not convinced. In fact, I suspect that we could see the floor drop out...
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Bitcoin Analysis January 29, 2018
Bitcoin markets have been quiet over the weekend, as one would expect, bouncing around just above the $10,000 level yet again. There is also the 61.8% Fibonacci retracement level that is offering support, but ultimately, I think what we are going to see is more sideways action than anything else. The market is trying to build a base at the $10,000 handle, but the volume has been very thin. That is something that concerns me for the uptrend, and I think that if we can get a daily close below...
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Bitcoin Analysis January 11, 2018
The Bitcoin markets fell most of the day on Wednesday, but as you can see on the daily chart, we have tested an uptrend line and bounced enough to form a hammer. By doing so, this is a very bullish daily signal, and if we can break above the top of the candle for the session, extensively the $15,000 level, I would be a buyer at that point and aim for $17,000 above. Alternately, if we break down below the lows of the session, that sends the market looking forward $12,000 which is much more...
Related topics : bitcoin market analysis
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