On yesterday’s analysis, we mentioned the option that Bitcoin is going to test the bottom of the ascending channel at $10,300 area. Right now Bitcoin is struggling to stay inside the ascending channel. Breaking it down, and the $10,000 support level, would send BTC to prior support level at $9,400, and then to $9,000. Resistance lies at $10,800 and $11,200 (where the major descending line is, from our overview analysis). Breaking up the descending line will send us to resistance at $12,000, $13,000 and longer target at $17,000. Right now it seems a little far away.
BTC/USD BitFinex 4 hours chart
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