Bitcoin is still moving in the descending channel.
The price several times had a great react to 120-days moving average line and 120-MA played supportive role until january 31sr 2018 ,when the price made a downward hole and then the 120-MA as a supporter prevent the bitcoin to rise.
After the price moved feom inside of the cloud to down, the Ichimoku cloud had still the resistance role, which in the resent bullish movement was done up to 11600 dollors. and exactly at that price it prevents the bitcoins's price to rise into the cloud.
We may observe the first type bat pattern in the recent movement with the price of 6600-6800 dollars. which is D point of the bat's harmonic pattern.
Also this range is a tangent to the long-term bullish line.
SL= 11000 $
TP= 6600-6800 $
The price several times had a great react to 120-days moving average line and 120-MA played supportive role until january 31sr 2018 ,when the price made a downward hole and then the 120-MA as a supporter prevent the bitcoin to rise.
After the price moved feom inside of the cloud to down, the Ichimoku cloud had still the resistance role, which in the resent bullish movement was done up to 11600 dollors. and exactly at that price it prevents the bitcoins's price to rise into the cloud.
We may observe the first type bat pattern in the recent movement with the price of 6600-6800 dollars. which is D point of the bat's harmonic pattern.
Also this range is a tangent to the long-term bullish line.
SL= 11000 $
TP= 6600-6800 $
Comment:
let's go for 6600-6800 Dollars