BTC has had a massive run up to December. BTC entered overbought conditions on all time frames which do not make it attractive to trader and investors. Nobody want to buy overbought stock. BTC has had a nice pullback and is currently testing its 100 day MA and its uptrend line.
We see btc go as low as 8500 here but we are looking for a close above the 100day MA. If this happens this is a good indicator that we will use this as support and the trend will continue with a nice slow growth into 2018.
Indicators
Daily RSI looks Good
4 hour RSI oversold
100 Day moving average support
Currently Testing its uptrend line
This in my opinion is a good time to load up on btc for 2018.
We see btc go as low as 8500 here but we are looking for a close above the 100day MA. If this happens this is a good indicator that we will use this as support and the trend will continue with a nice slow growth into 2018.
Indicators
Daily RSI looks Good
4 hour RSI oversold
100 Day moving average support
Currently Testing its uptrend line
This in my opinion is a good time to load up on btc for 2018.
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