We thus initiate a new forecasting reporting on BitCoins and see how the price of BTCUSD would potentially react next. From a technical outlook, the close of 26 December 2017 could not take out the high of the candle on 22 December 2017. This is important to note and hence, we are unable to issue an upward bias of BTCUSD confidently at this point.
Investors like you may be wondering what BTCUSD's movement will be in the next few trading days. Based on our forecast, if the momentum continues, we could potentially see BTCUSD reach the next resistance at 17780, and it were to be taken out, BTCUSD may potentially challenge the all-time high of 19666 occurred on 17 December 2017. On the other hand, if this move is not sustainable and BTCUSD were to reverse its direction to the downside, we could potentially see it retrace to 14440 as our first target level, and if this level cannot provide the necessary support, BTCUSD could potentially be retraced to 13800.
27 December 2017
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