RE: Bitcoin? This may help...

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Bitcoin? This may help...

in bitcoin •  7 years ago 

I totally agree with you..

bitcoin
7 years ago by

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      ·  7 years ago 

    I think within the next few days we will need to watch the fight between the 20 day moving average (purple line) and the S1 support level. There is more pressure to the downside than the upside and one of two things could occur.

    1. If the S1 support and lower trend line fail, then we could see a downward move to the S2 support.
    2. If we see price break through the resistance of the 20 day moving average, then it looks like $14,000 would be reached relatively easy.

    If we reach the $14,000 mark, then it would be met with great resistance due to

    1. The pivot point (P)
    2. The Ichimoku cloud
    3. 50 day moving average
    4. Upper trendline

    These all seem to be intersecting around that $14,000 level.

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