hdon94
Panjang

BTC Trying Hard To Recover

BITFINEX:BTCUSD   Bitcoin / Dolar
BTC             over the last 24 hours has been moving higher but has a lot more work to do before I will be convinced that the worst of this pullback is over.
Below are the steps I feel are necessary for BTC             to continue higher.

1) I would like to see BTC             clear the most recent high at $15131, it will have to overcome resistance in the $15,000 area first.
2) Next, BTC             will need to break through resistance in the $16,000 area then clear the high at $16,494.
3) I see significant resistance between $16,000 and $17,000 so if BTC             can break above $17,000 IMO             it will have enough momentum that a new all-time high would follow fairly soon.