SkylerKing

BTC Prediction (Explained)

BITFINEX:BTCUSD   Bitcoin / Dollar
Right now, BTC             7.97% is looking for support at the ~$8,400 level.

RSI is healthy for 1, 2 and 4 hour charts

MACD trending negative for 1 and 4 hour charts. This may suggest that we will not find long term support at the $8,250 - $8,400 level. This could easily change, though, as the bears and bulls battle it out.

If we have and hold support, I believe we will head North towards the healthy growth channel (in green), with the chance to hit next resistance at ~$9,400.

If we do not have/hold support, We have a chance to drop again following the downward channel , hitting our prior resistance of ~$5,500 as a new support. Lower Supports also mapped in case we break $5,500.
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