BITCOIN update 21/2/18 -- Bounce from resistance.

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9y

Price action has confirmed the trend line as resistance with a third bounce which also formed a bearish reverasal candle.

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Expect to see a short retracement and consolidation over the next few days. Eyes are on the 10000 level for support now but it is likely that we see a fall to 9000. We have solid support at 9000 with the 200EMA so risk of further losses is low.

The Stochastic and CCI are pointing towards a drop so it is unlikely that we will break resistance this week but still possible.

A break and re-test of this trend line will be extremely bullish for BTC.

This analysis is my opinion only and is subject to change with market conditions. If you like my analysis then please show some love by upvoting, commenting, and following!