Forum Forums Bitcoin (BTC) Forecast – Technical Analysis Bitcoin (BTC) Technical Analysis – April 2018 Reply To: Bitcoin (BTC) Technical Analysis – April 2018

#17597
margincall
margincall
Keymaster

Bitcoin has thrown out some bearish signals on the 1 Day candles, lets take a look.

btcusd forecast 26 April 2018
We can see that there was quite a lot of selling volume on the Bitcoin market yesterday and the bears took control of the 9k zone, for now.

I am looking for the market to stay above $8800 in order to remain bullish, however our trend line already broke once this morning dipping into $8700.

With this kind of market action I will usually wait to see when the bulls jump back in the party.

For now it still looks like a healthy correction and if we get a 50% retrace, some traders will seriously consider buying the dip.

Resistance is currently solid at $9000, should we consolidate below $8800 I would expect lower prices incoming.

The green box is a possible buying opportunity should we see a sell-off again in the BTC market, this is not set in stone, prices could go lower or higher than what I predict.