BTC/USD Analysis - 1/17/18

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
- Previous H&S Pattern indicators show downtrends.
- Bollinger Bands widening, likely to narrow as Bear Flag completes.
- Possible Bear Flag predicting further downward movement.
- Not in Bitcoin but if support levels of 8k broken downwards, expect further bearish movements.
- Personally, 8k seems like prime buying opportunities as trends seem unlikely to move under support levels.

RSI @ 42, if drops below 30, BTC is oversold, and bullish buy areas emerge.
MACD showing new trend breakout marking a bull run. This is short term MACD , trend reversal very possible.


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