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BITCOIN (BTC) Midday Analysis 07-02-2018

 

The price of BITCOIN continues to rise to near the pivotal resistance 8643.35, noting that the SMA 50 meets with this level to add more strength to it, while Stochastic shows a clear saturation in the buy.

From here, these factors encourage us to continue with the bearishness in the coming sessions unless 8643.35 is breached and stability above it, noting that our targets start at 6039.30 and extend to 4530.00 after breaching the previous level.

The trading range for today is among the support at 5500.00 and resistance at 8600.00

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