BTCUSD hit our Target of 16400. What's Next?

In our last week's forecasting report on BitCoins , we forecast BTCUSD would potentially hit the target of 16,400 which it did today.

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 bullish 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 bullish 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.

Good trading
27 December 2017


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交易進行: After hitting 16400, the bullish move cannot be sustained and BTCUSD moved back to the downside. Our downside target of 14400 was just achieved. We will watch this closely and see if BTCUSD will retest our next downside target of 13800. Will update again.
交易結束:目標達成: I was just notified that the target 2 - 13800 has been crossed. So, this instrument triggered both targets 1 and 2 on the same day. The case study is now closed.
What's your updated forecast for this if you don't mind me asking!
@K0k0, this case study is closed as BTCUSD hit 14400 and 13800 as mentioned above already. I will wait for the next few candles to see when the next forecasting report will be issued. As we are looking at only daily charts, we don't need to issue reports everyday, make sense?
you basically just mentioned all the possibilities, so which one is going to be correct?
@CoinFinder, at NinjaSingapore, we do not predict where the market is going because eventually the market does not care for our opinion. We only forecast where the price can potentially go. That's the rationale as explained in one of our education posts.
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