Daily Technical Analysis from DayTradeIdeas
Recap for February 12th, 2018
Bitcoin we wrote: We have a buy signal! Bulls can be encouraged as we move back above 8700 to target resistance at 9100/9150. Longs at first support at 7900/7950 have worked perfectly for a 1000 point profit already as we reach 8900.
Daily Forecast - February 13th, 2018
Bitcoin we have a BUY SIGNAL! Bulls can be encouraged as we move back above 8700 to target resistance at 9100/9150. This should be a big challenge but a break above is a second important buy signal. Try to add to longs targeting 9500/9550. We should struggle here but shortts would be risky now. A break above here is another buy signal targeting 10100/10150 & 11150/11200.
First support at 7900/7950 is worth trying longs with stop below 7700. Below here kills the buy signal however & I turn more negative again targeting 7500/7400 & 7220/7200. Further losses are expected to hit 7000 & 6800. Below look for 6600 & 6200 before the 6000/5900 low. A break lower targets 5555. Do not be surprised to see 4500/4300.
Report written by Jason Sen - www.daytradeideas.co.uk
