Bitcoin price trend prediction
January 8, 2018 5:12 am,
Bitcoin price is getting better and at present positioned adequately above the $15,000 level in opposition to the US Dollar. There was a split on top of a key bearish tendency line with the battle at $14,100 on the 4-hour chart of BTC/USD. On the downside, there is a linking bullish trend line forming with sustain at $15,800 on the similar plan.
Bitcoin price is touching completely from $12,500 low next to the US Dollar. BTC/USD is now staring additional increase as long as over $15,800.
Bitcoin Price increase
It is seen a polite support base created at bitcoin price about the $12,000 level alongside US Dollar. The costs started a good benefit move and direct to shift above the $13,000 and $14,000 confrontation levels. All from beginning to end the upside move, the price as well encouraged on top of the $15,000 level and the 100 easy touching standards (4-hours). Furthermore, there was a crack above an answer bearish trend line with resistance at $14,100 on the 4-hours plan of BTC/USD.
It released the gates for extra increases and the price was capable of progress over the $15,000 and $16,000 levels. A far above the ground was formed lately at $17,048 from where the cost may correct a small number of points lower. An early support on the downside is about the 38.2% Fib retracement level of the last wave from the $14,040 low to $17,048 high. In addition, there is an involving optimistic trend line forming with support at $15,800 on the same plan.
The drift line maintains near the 50% Fib retracement stage of the previous wave from the $14,040 low to $17,048 high. Consequently, if the price corrects lesser, it is probable to discover support above $15,500. The overall trend is optimistic for BTC and the price is expected to shift further advanced above $17,000.