Log In

Bitcoin Price Update – Closed Below Bollinger Band Median (Down 4%)

We did get a another negative day for Bitcoin. We could not hold the supporting trendline and we also closed below the bollinger band median as you can see from this daily chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: We also formed a negative candlestick. Now, what about other support areas to the downside? The first one Im looking at is the 50 day moving average (black moving line) and the second support area is around 13000 which is right at the long term supporting trendline. Therefore, watch out for these areas.

Now, what about the upside? There is a lot of resistance, we are below both the 20 day moving average, bollinger band median and the nearest trendline. But if we could close above 15500 then I would get more bullish.

Happy trading!


Leave a reply