Bitcoin forecast & technical analysis January 12, 2018


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Bitcoin BTC/USD are traded at the level of 13501 and continue to move within the bullish channel. At this point, we should expect an attempt to test the lower limit of the «Wolfe Wave» model near the level of 13100.

Bitcoin forecast & technical analysis January 12, 2018

Again, we should expect a rebound and an attempt to increase Bitcoin with a target above 16050. In favor of the growth of BTC/USD quotations, a support line test will be performed on the relative strength index (RSI). The abolition of the Bitcoin growth scenario will be the fall and breakdown of the 12200 area, which will indicate the breakdown of the lower boundary of the model and the continuation of the fall of BTC/USD below the level of 10300.

Bitcoin forecast & technical analysis January 12, 2018

Bitcoin forecast & technical analysis January 12, 2018 assumes an attempt to test the lower boundary of the «Wolfe Wave» near the level of 13100 and continue growth to the area above the level of 16050, an additional signal for Bitcoin growth will be a test of the support area on the indicator of relative strength index (RSI).


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