Tuesday 21 November 2017

Bitcoin USD Hit point&figure chart target.

Bitcoin USD Hit point and figure chart target of 8000. Next target is 10500, but beware a consolidation around the 8000 as Bitcoin needs to consolidate recent gains. Box size is 250 for this point&figure chart, beware a key reversal to the downside. So far the trend remain up, and I am on the lookout for a key reversal that could see a short-term consolidation take place.

Turning too the Ichimoku Cloud Chart:
The cloud is a key support zone in this bull rally. With key new support at old highs of 7431 zones.
Bitcoin rebounded from old lows/front cloud support zone of 5555. Note MACD buy signal remain in place. Watching closely to see if the consolidation will give additional entry opportunities towards that 10500 P&F chart target.

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