BitcoinLong
Technical Analysis - Bitcoin $24,000
Bitcoin - On the daily timeframe we have a valid tend line dating back from the 15th December 2017. If the price breaks the trend line I will be extremely bullish with short term targets @ $12,700 and a longer upside target @ $24,500
Price action is being driven towards the trend line for a 4th time after the moving averages bounced off the $10,000 resistance which is now support.
On a intraday perspective the bounce at the 3rd touch created a higher low (also a 61.8 retracement) giving me reason to believe the trend line will be broken and retested before heading towards $12,700. The $12,700 region is my short term target as it is a major resistance level and also matches up perfectly with my extended fib target.
My long term target is @ the -27.00% fib from $3,000 to $19,800. I also believe this target will be met as this market is very young and still has a massive amount of room for growth.
Price action is being driven towards the trend line for a 4th time after the moving averages bounced off the $10,000 resistance which is now support.
On a intraday perspective the bounce at the 3rd touch created a higher low (also a 61.8 retracement) giving me reason to believe the trend line will be broken and retested before heading towards $12,700. The $12,700 region is my short term target as it is a major resistance level and also matches up perfectly with my extended fib target.
My long term target is @ the -27.00% fib from $3,000 to $19,800. I also believe this target will be met as this market is very young and still has a massive amount of room for growth.
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