Bitcoin has shifted trend to neutral on daily timeframe and has
plunged through the Cloud towards the bottom of it and the lower
end of a triangle. Some support has been found, but there is
no real bounce to talk about, more of indecision and pause.
Currently it has failed to break above the Weekly S1 after the
close below it yesterday, and this is not a good sign for bulls.
However, Bulls will acknowledge the strong support of the Cloud
with aid of the triangle. Even a piercing lower could be the
markets way of clearing that Yearly pivot point, that ofcourse
is acting its gravitational pull from here. A close below the
Yearly pivot point and the Dec 22 swing low will open up for
a move towards the Monthly S2 and Weekly S3 around 9000
mark. Bulls would like to see price advance and find momentum
to close above the Monthly pp at 14300 and preferrably above
the Cloud, which would remove some of the seller pressure.
******
If you want to support this channel check out the
profile page at the top for details. Thanks.
******
Todays_ technical view on the Total Market Cap can be seen here:
steemit.com/cryptocu...rket-cap-jan-12-2018
******
plunged through the Cloud towards the bottom of it and the lower
end of a triangle. Some support has been found, but there is
no real bounce to talk about, more of indecision and pause.
Currently it has failed to break above the Weekly S1 after the
close below it yesterday, and this is not a good sign for bulls.
However, Bulls will acknowledge the strong support of the Cloud
with aid of the triangle. Even a piercing lower could be the
markets way of clearing that Yearly pivot point, that ofcourse
is acting its gravitational pull from here. A close below the
Yearly pivot point and the Dec 22 swing low will open up for
a move towards the Monthly S2 and Weekly S3 around 9000
mark. Bulls would like to see price advance and find momentum
to close above the Monthly pp at 14300 and preferrably above
the Cloud, which would remove some of the seller pressure.
******
If you want to support this channel check out the
profile page at the top for details. Thanks.
******
Todays_ technical view on the Total Market Cap can be seen here:
steemit.com/cryptocu...rket-cap-jan-12-2018
******