Tuesday, May 9, 2017

Bitcoin Trend 10-05-2017

Bitcoin price managed to reach the bullish channel's resistance that appears on the above chart, and it showed some temporary bearish bias but it returns to recover again, as it kept its stability above 1700.00 barrier, which hints that the price is on its way to resume the bullish trend again, waiting to test 1785.00 level as a next main station.

 
 
Therefore, the bullish trend will remain suggested in the upcoming sessions, and breaching the mentioned level will open the way to head towards 1900.00 on the near term basis, while breaking 1670.00 will push the price to visit the bullish channel's support around 1614.70 before turning back to rise again.

Expected trading range for today is between 1670.00 support and 1850.00 resistance
Expected trend for today: Bullish


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 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