Expected trading for today is between 15000.00 support and 19000.00 resistance
Republicans pass sweeping tax bill in 227-203 vote,
and US dollar retreated slightly.
The vote has drawn investor interest back in the US stock market.
Apart from keeping Wall Street in the green,
it is also providing support for the dollar against bitcoin price.
The reason why bitcoin show classic correction near 19000.00 level!
Also many have already taken off and had
closed their books for the year 2017.
Anyway pullback is necessary to draw more buyers in,
as the bearish correction is healthy for the main bullish trend.
For now bitcoin price waits for more bullish momentum
to sustain the climb!
So What Next!
The price now around 16500.00 and might test 16000.00 / 50% Fib and resume its positive trades, towards 17100.00 level.
Breaching 17100.00 level and hold above it will lead the price towards 18100.00 level.
100 SMA is still above 200 SMA so the climb is more likely to continue than to reverse.
Stochastic suggest that sellers are still in the game.
RSI is treading sideways.
Note, breaking 15000.00 / 61.8% Fib and hold below it, will stop the bullish wave.
Expected trading for today:
is between 15000.00 support and 19000.00 resistance.
Expected trend for today:
Bullish.
YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.
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