Sunday, January 29, 2017

Bitcoin Trend 30-01-2017

Bitcoin price shows sideways and tight trading settling around the EMA50, while stochastic provides clear positive signals on the four hours' time frame, waiting to motivate the price to resume the bullish bias to head towards the neckline of the inverted head and shoulders' pattern that appears on chart, located at 934.00 now, which breaching it the key to rally towards 1050.00 direct.

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Therefore, the bullish trend scenario will remain suggested in the upcoming period unless breaking 851.00 level and holding with a daily close below it, which will push the price to head towards 779.00 areas again before any new attempt to rise.



Expected trading range for today is between 
870.00 support and 1000.00 resistance.

Expected trend for today: Bullish


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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS 
TO BUY OR SELL BITCOIN, 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.