We can get to $10,500. (PERFECT Support & Resistance Levels)
DESCRIPTION
Few questions that came up to me now for Bitcoin (BTC/USD):
- How far up can it go?
- Where can we find the important support and resistance levels?
So looking at my trend analysis, the chart was stretched out to accommodate the previous high price level which was encountered on Resistance 3 (February Period) which will be our focal point for a resistance level at $10488.95. We tend to take this as our Take Profit Level since the Entry price levels has entered the Price Range between R2 & R1 (Stability Zone). For me this is how far we can go for now and these are my important support and resistance levels.
Resistance 2 (R2) - $9,145.80
Resistance 1 (R1) - $8,167.22 (SL)
The Resistance 1 has been taken as a Stop Loss level, any breakout from here below might trigger a Downtrend. But my predictions are still strong on a Bullish Uptrend.
Our next Stability Zone is between R3 & R2, that's when the price happens to go higher and break the Resistance 2 level, which has happened before earlier today, then we see the price going as far as $10,488.95 and upwards.
Also happen to stretch the Bullish Trend Channel to see future price levels, which I strongly believe that Bitcoin will achieve the $13,000 Mark.
Do follow me on Twitter @Obiakor_Evans and please help me Like my ideas and follow for more great trend analysis.
Best Regards,
Evans
Few questions that came up to me now for Bitcoin (BTC/USD):
- How far up can it go?
- Where can we find the important support and resistance levels?
So looking at my trend analysis, the chart was stretched out to accommodate the previous high price level which was encountered on Resistance 3 (February Period) which will be our focal point for a resistance level at $10488.95. We tend to take this as our Take Profit Level since the Entry price levels has entered the Price Range between R2 & R1 (Stability Zone). For me this is how far we can go for now and these are my important support and resistance levels.
Resistance 2 (R2) - $9,145.80
Resistance 1 (R1) - $8,167.22 (SL)
The Resistance 1 has been taken as a Stop Loss level, any breakout from here below might trigger a Downtrend. But my predictions are still strong on a Bullish Uptrend.
Our next Stability Zone is between R3 & R2, that's when the price happens to go higher and break the Resistance 2 level, which has happened before earlier today, then we see the price going as far as $10,488.95 and upwards.
Also happen to stretch the Bullish Trend Channel to see future price levels, which I strongly believe that Bitcoin will achieve the $13,000 Mark.
Do follow me on Twitter @Obiakor_Evans and please help me Like my ideas and follow for more great trend analysis.
Best Regards,
Evans
