Thursday, March 9, 2017

Bitcoin Trend 10-03-2017

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Bitcoin price bounced upwards clearly and settled above 1169.00 level, and by taking a deeper look at the intraday time frames, we find that the price forms inverted head and shoulders' pattern that appears on the minor image, thus, breaching 1207.50 will confirm regaining the main bullish trend and stopping the correctional bearish wave that started from the recently recorded top at 1298.00.
Therefore, we expect witnessing positive trading on the intraday and short term basis, and the main targets begin by breaching the above mentioned top to open the way to head towards 1385.00 as a next main station, noting that breaking 1169.00 and holding below it will push the price to return to the correctional bearish track again.

Expected trading range for today is between 1130.00 support and 1300.00 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.