Bitcoin vs USD January-March 2017
Forecast: key resistance level at 850.15 to be broken for the bullish trend to be continuing
Weekly (W1) price is located above Ichimoku cloud in the bullish area of the chart. The price is on ranging within the following support/resistance levels:
- 850.15 resistance level located far above Ichimoku cloud in the beginning of the bullish trend to be resumed, and
- 745.00 support level located in the beginning of the secondary correction to be started.
Chinkou Span line is located above the price indicating the ranging condition to be continuing in the near future for example.
- If the price breaks 850.15
resistance level on close weekly bar to above so the primary bullish trend will be resumed.
- If weekly price breaks 745.00 support level on close bar to below so the secondary correction within the primary bullish trend will be started.
- If weekly price breaks 475.75 support level on close bar to below so we may see the bearish reversal to be started.
- If not so the price will be on bullish ranging within the levels.
Resistance | Support |
---|---|
850.15 | 745.00 |
N/A | 475.75 |
Trend:
Weekly price broke 850.15 resistance level to above together with 944.22 new level. So, it is bullish breakout!
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Bitcoin vs USD January-March 2017 Forecast: key resistance level at 850.15 to be broken for the bullish trend to be continuing
Weekly (W1) price is located above Ichimoku cloud in the bullish area of the chart. The price is on ranging within the following support/resistance levels:
Chinkou Span line is located above the price indicating the ranging condition to be continuing in the near future for example.
Trend:
W1 - bullish