Crypto Screener Forums Bitcoin (BTC) Forecast – Technical Analysis Bitcoin (BTC) Technical Analysis – December 2017 Reply To: Bitcoin (BTC) Technical Analysis – December 2017

#1086
margincall
margincall
Keymaster

Bitcoin continued to push to 20k usd this week while most altcoins also recorded nice gains alongside it.

We are still bullish medium to long term speaking, but increased selling volume could give us a short term correction on the btc market.

Look for the breakout above 19300 – 19400 (Bitstamp). Remember that if there is not a lot of trading volume it could very easily be a fakeout!

 
btcusd forecast 17 December 2017
 

Should the push fail I will wait to see if 17k – 18k come in as support, should this level fail we will most likely test the lower trend lines.

At this point 15k looks like very solid support and there is a very good chance that the volume from the futures trading keep prices well above 15k.

With all that if we face a selloff and prices go below 15k there is a very good chance that most Altcoins will bleed alongside btc.

For now the markets are bullish and the crypto world looking very green indeed!