As indicated by our desire, the forceful bulls purchased the plunges to the 50-day SMA. Following three days of unpredictable exchanging, the digital currency is endeavoring to continue its uptrend today.
On Dec. 22 and Dec. 24, the bulls forcefully purchased the plunges amongst $13,000 and $11,000 levels, which brought about the development of long tails on the candles.
Along these lines, for the time being, $11,000 is probably going to go about as a fleeting base. In any case, will the BTC/USD combine rally back to the highs?
Impossible?
The pullback is probably going to confront protection in the zone amongst $15,118.45 and $16,160.02, which are 50 percent and 61.8 percent Fibonacci retracements. From this protection zone, we expect a plunge back towards the current lows.
The following fall towards the $11,000 level will give us a superior thought of the uptrend.
All things considered, all through 2017, Bitcoin has constantly shocked us by mobilizing to new highs after each plunge. Along these lines, if the value breaks out of $16,160.02 levels, odds are that it will retest the highs. Nonetheless, we think there are low odds of that event.
