Thursday, January 5, 2017

Bitcoin Trend 06-01-2017


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Bitcoin price declined sharply yesterday after approaching from the historical high recorded at 1163.00, as it lost 250$ of its value to record 885.40 as yesterday's low, settling below the bullish channel's resistance that appears on the above chart, hinting that the price is on its way to achieve more decline in the upcoming period according to the trading rules inside the price channels.


Therefore, we expect the domination of the bearish trend on the upcoming trading, to head towards targeting 924.50 followed by 779.00 levels, noting that the continuation of the expected decline depends on the stability below 1037.40 level.

Expected trading range for today is between 900.00 support and 1037.40 resistance
Expected trend for today: Bearish


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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS 
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. 
 Do your own due diligence. 
No one knows tomorrow's price or circumstance. 
 I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader. 
I do not accept responsibility for being incorrect in my speculations on market trend.