Published On: Fri, Sep 8th, 2017

Bitcoin Price Analysis: Crucial Tests of Historic Support Could Lead to Further Pullbacks

Share This
Tags

This week’s BTC-USD price recap:Following a $700 drop, BTC-USD managed to find a bottom around $4200 before entering into a 4-day long consolidation pattern. During the consolidation pattern, the price climbed $400 on decreasing volume before ultimately dropping back to $4200. So, where does this leave us and what can we expect in the coming days in the BTC-USD markets?Figure 1: BTC-USD, 1-Hour Candles, GDAX, Bear Retracement ValuesA common continuation pattern during bear markets is a step-by-step series of tests along the Fibonacci Retracement set. One by one, the Fibonacci values are tested before the retracement ultimately tops out around 61%. During …

Read more –> CLICK HERE all content is copyright Bitcoin Magazine.

Need Bitcoin marketing and PR? Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

Powered by ABITCO.IN

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

ALL Bitcoin News

Like what you’re reading?

Never miss any breaking Bitcoin news by following us on Facebook and Twitter!


SUBSCRIBE OUR RSS FEED AT: http://abitco.in/feed

×