Up price is below the $10,000?

Analysis of the G-Cryptotargets The bitcoin depending on the time of this writing around the $10,300. What do the charts on the different scenarios? Check out the analysis!

Bitcoin weekly chart

Last night it closed the weekly candle. And that was surprising. We can see in the below chart, a bullish engulfing. This is a strong bullish signal, in contrast to the previous bearish scenario. It would appear, therefore, that we have this past week from a support level is found at the symmetrical triangle.
Bitcoin weekly chart

The daily chart

If we use the daily chart to take a look at it, as we expect, in the short term, a fall towards $9.800 – $10.040. That is, the support of the symmetrical triangle.
After this fall, we expect to see an increase in the resistance at $12.500 – $12.750. See, also, the 4-hour chart, for further indications.
Bitcoin daily grafiekAls, we have the support to attack of a symmetrical triangle, we find our first major support is back at the bottom line of the descending triangle ($9.050 – $9.150. If the 4 hour candle closes below this support, then our eyes are focused on the CME currency Futures, the Gap was at $8.500 – $9.000 to $7.150 – $7.450.
Bitcoin CME currency Futures

BTC is a 4-hour chart

If you look at the 4 hour chart to look at, which is useful for the movements in the short-term we expect to see a fight between the bears and the bulls are in the $10,300 zone.
However, we expect that we will have a total of $10,000 will go down before any increase in be able to make it out of the symmetrical triangle .
For instance, we are at the 0.618-0.65 fibonacci level. It is located in the region of $.9850 – $9.950. In this zone, as well as the support of the symmetrical triangle on the weekly chart.
The 4-hour chart of the bitcoinDe the current support areas:
$9.800 – $9.950
$9.050 – $9.150
$8.350 – $8.500
$7.150 – $7.450
The current and resistance areas :
$10.850 then – $10.900

What does bitcoin have to do?

In the short term, bitcoin is bearish in the direction of. A movement in the direction of $9.800 – $9.950, it is acceptable. If the support team will be able to keep it, I would have expected an increase, but at this point, we must be careful to keep an eye on .
In the medium term bitcoin is bullish: I am expecting a price in the $12.500 to sin. In the longer term we are very bullish for bitcoin.

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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.