Sunday, March 12, 2017

Bitcoin Trend 13-03-2017

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Bitcoin price provided strong and mixed trading in last Friday, where it rallied higher to hit 1350.00 level, before it bounced lower sharply approaching from 61.8% Fibonacci correction level at 960.16, noticing that the price returned to settle positively above the critical support base at 1169.00, which supports the chances for the continuation of the bullish bias in the upcoming sessions.
Therefore, we keep preferring the bullish trend on the intraday and short term basis, pointing that the price needs a confirmed breach to 1298.00 level to confirm the rally towards our next main target at 1.385, while breaking 1169.00 represents negative factor that will push the price to make an intraday bearish correction before it return to rise again.

Expected trading range for today is between 1169.00 support and 1350.00 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.