⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

Bitcoin (BTC) Breaks Below Horizontal Support – Check Out The Next Buying Level

Posted Wednesday, January 10, 2018 by
Arslan Butt • 1 min read

Since a couple of weeks, the chief cryptocurrency Bitcoin is under attack by the bears. Ethereum, on the other hand, is making solid gains. Let’s take a quick look at the technical sides of Bitcoin. 

BTC/USD – Horizontal Support Breakout

Fellas, if you look at the 4 – hour chart, the BTC has broken below the solid support level of $14,500 and it’s likely to head towards $13,480. The bearish momentum gain strength specifically after the 50- periods EMA bearish crossover at $15, 600.

BTC/USD - 240 - Mins Chart

BTC/USD – 240 – Min Chart

Key Technical Levels – BTC/USD

Support     Resistance

14,125          15,035

13,844          15,316

13,389          15,770

Key Trading Level:    $14,580

BTC/USD – Trade Idea

Staying bearish below $14,580 seems to be a good idea with a stop above $14,850 and a take profit of $13,050 and $12,850. Conversely, bulls can get in the trade right above $12,850. Stay tuned, we will be sharing the forecast on ETC/USD very soon. Good luck.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments