Tag Archives: Bitcoin Trading

Bitcoin Chart Analysis – 19Apr2018

Bitcoin bearish signal was reversed into bullish signal last week on 12 April 2018. Now the upside target is 11,100.
And as per the near-term charts, 9600 can come within next 3-4 weeks, or sooner because Bitcoin tends to move rapidly once the movement starts.  Current level of 8000 is intermediate resistance, and above 8000, there may be a swift move to 9600-9900. There is a strong support at 6400, so the downside looks limited as of now. The long term chart of Bitcoin (over 3-5 year timeframe) is still very bullish, and these are all small moves compared to the big move that is likely above 15K. Please see the attached chart. Thanks.

Bitcoin Daily Chart Analysis – 28Feb2018

Bitcoin has faced clear selling pressure today at 11,000 level and the chart towards end of day has turned bearish in the near term for next few days unless we see a strong buying with green closing.

At the time of writing this post, Bitcoin is at 10,480 and its possible that Bitcoin may test 9500 in the next 4-5 days, before buying support can emerge again.

If Bitcoin can defend 10,000 level after today’s bearish signal, that will be very bullish, but the probability of it looks very less, because of failure to hold 11,000 – 11,500 levels on two different days.

If Bitcoin falls below 9300, then it would be breakdown, and the next buying support comes only near 8000 level. The probability of it looks high as of now.