alexcrypto

$BTC/USD What's next for #bitcoin?

BITFINEX:BTCUSD   Bitcoin / Dolar
A fibonacci Fan correctly suggests that this wave has lost steam.

We are in the channel between the 0.75 and 1 line.

At the moment breaking the base line is quite unlikely given we had an incredible moemntum until now.

A more likely scenario is a retrace to around 10400 and then quite probably higher.

Fundamentals are strong to justify a continued rally.

With more data in the following hours/days techincal analysis can be more accurate.

At the moment to track momentum could be useful to utilize Bollinger Bands .

Indicator wise:

- Stoch RSI approaching oversold territory
- RSI oversold
- CCI showing a bearish divergence

This suggests that we have not much more momentum left to continue over 11,000 with a solid pierce over this price.

Trade safe.
Spot on. Glad I saw this post. Beer on its way, mate. Thank you.
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