Bitcoin Short Term Tech Analysis

in bitcoin •  8 years ago  (edited)

BTCUSD.png

Based on 60 mins chart BTC/USD

Outlook for Bitcoin is bearish.

It may bounce off of Support 1 and retest Resistance 1. If fails to breakout Resitance 1, then it will very likely dip down to 1666 (Support 2)

If you are familiar with Elliot Wave (Correction ABCDE, Resistant 1 is also where the "E" will be).

In addition, RSI and MACD are both downward, bearish trend.

Disclaimer: This article is solely for educational purposes only, it does not by any mean constitute investment advice of any sort.

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8 years ago by

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      ·  8 years ago 

    @progidydefender thanks for sharing your insights bud! Will be following for more :-)

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        ·  8 years ago 

      No prob. I am hoping it will play out as I analysed as I am in for buying the dip.

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