Bitcoin Trend 26-01-2017

in bitcoin •  8 years ago 

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Bitcoin price shows sideways and tight  trading settling around the EMA50, and we are still at the stage of  forming the right shoulder of the inverted head and shoulders' pattern  that its signs appear on chart, waiting to attack its neckline at 936.00  to activate the positive effect of the mentioned positive formation,  which will lead the price to head towards 1050.00 direct.   

In general, we will continue to suggest  the bullish trend in the upcoming period unless breaking 851.00 level  and holding below it, as breaking this level will push the price to head  towards 779.00 – 745.00 areas before any new attempt to rise.   

Expected trading range for today is between 870.00 support and 1000.00 resistance   

Expected trend for today: Bullish 


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