Thursday, March 16, 2017

Bitcoin Trend 17-03-2017

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Bitcoin price faced strong negative pressure that pushed it to break 1169.00 level and settles below it, which opens the way to start bearish correction on the intraday and short term basis, as the price trades at the bullish channel's support line that appears on chart, noting that the price pushes on this channel's support, hinting to head towards extending the bearish wave.
Therefore, the bearish trend will be suggested in the upcoming period, and breaking 1089.18 level will confirm heading towards 1024.67 followed by 960.16 levels mainly, noting that breaching 1169.00 level will stop the current negative pressure and lead the price to resume the main bullish trend again.

Expected trading range for today is between 960.16 support and 1169.00 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 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.