As a matter of fact, the price reached an all-time high on 17 Dec 2017 at $19,666 but since then, it has retraced for five consecutive days by more than 35%.
Investors like you may be wondering the movement of BitCoins in the following week. From a technical outlook, Bitcoins did close below 20 day for the first time since 11 Nov 2017.
Based on our forecast, if the momentum indeed continues, we could potentially see the price reach the recent high of $19,666 as our first target and potentially we could see BitCoins try to reach the price level of $22,000. On the other hand, if this recent price reversal shows a change of the , the directional bias suggests that we could potentially see the price retrace to $12,600 as our first target level, and if this level cannot provide the necessary support, the price could potentially be retraced to $10,950.
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