Crypto Screener Forums Bitcoin (BTC) Forecast – Technical Analysis Bitcoin (BTC) Technical Analysis – February 2018 Reply To: Bitcoin (BTC) Technical Analysis – February 2018

#1483
margincall
margincall
Keymaster

Bitcoin finally broke through the 10k support level and prices fell sharply into the 8k – 9k zones like we indicated in our previous reports.

btcusd forecast 2 Feb 2018
Taking a look at the one hour candles we can see that we are still in a bearish trend and 8k will most likely get tested again.

We are also faced with the possibility of bounce here as it is the 3rd time we are visiting the oversold zone on the RSI indicator.

As far as momentum is concerned there is a possible divergence should momentum pick up and continue to the upside.

Short term support is between 7500 and 8500.

Some traders are placing buy orders in this zone and even below.

Feel free to ask us about the markets on Discord. Safe trades.