Consolidation for BITCOIN and ALT-COIN

in #cryptocurrency • 6 years ago

Fib Retracements

The chart just speaks for itself. Here is the one year chart that herald the rise of bitcoin from below 1000 all the way to 20000. Pay attention to the fib retracements at 10200 and 8000.

On the smaller time scale, 13200 and 14500 presents heavy resistances. I don't see it breaking out of the down channel yet. Will keep on consolidating from 10000 to 12000. If it drops below 10000, will just consolidate between 8000 and 10000.

USD Dollar

The USD dollar is really targeting 88 as the support and with so much bearishness of the USD, I highly doubt we're seeing the start of the demise of the USD. The USD should bounce up from here and provide further resistance for BITCOIN to break out of the downchannel.

STEEM

STEEM has been outperforming among the ALT-COINS recently. Any drop in STEEM should be a buying opportunity!

#money #steemit #steem #bitcoin
6 years ago in #cryptocurrency by
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