Bitcoin has been trading upwards in past 10 hours. We found the break of the key resistance trendline in the background, which is sign that buyers may continue with new buying. Watch for buying opportunities.
White line – Broken resistance trendline
Yellow line – Fibonacci expansion 100% at $8.17
Yelow line 2- Fibonacci expansion 161.8% at the price of $8.513
In the background we got broken resistance trendline and bullish flag in creation, which is indication of the further upward movement. The MACD oscillator turned into positive teritory but the Stochastic is overbought at this zone, so you will need patiance for potential long position. The bull flag is in creation and you should watch for potential breakout to confirm further upside. The upward targets are set at the price of $8.117 and $8.513.
The material has been provided by InstaForex Company – www.instaforex.com
Bitcoin has been trading upwards in past 10 hours. We found the break of the key resistance trendline in the background, which is sign that buyers may continue with new buying. Watch for buying opportunities.
White line – Broken resistance trendline
Yellow line – Fibonacci expansion 100% at $8.17
Yelow line 2- Fibonacci expansion 161.8% at the price of $8.513
In the background we got broken resistance trendline and bullish flag in creation, which is indication of the further upward movement. The MACD oscillator turned into positive teritory but the Stochastic is overbought at this zone, so you will need patiance for potential long position. The bull flag is in creation and you should watch for potential breakout to confirm further upside. The upward targets are set at the price of $8.117 and $8.513.
The material has been provided by InstaForex Company – www.instaforex.com
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