Bitcoin is looking very bullish. Once it breaks this resistance line, I think it'll be on a long bull run as we have seen in the past that bitcoin always rallies really nicely when the MACD and ADX are on an upward momentum. This seems to becoming near. Buy should be 15800+
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Until this uptrend line is broken, There is no need to panic.
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Still hasn't broken the trend line. No need to panic yet. Anyone that wants to play it safe, set a stop loss a decent amount below 13k.
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Idc If there's a chance it could be a bottom. I'm putting my stop loss below 12500 on BITTREX (might be different on other exchanges) if it goes below 12500, I personally think BTC will go lower.
Thank you for this analysis. BTC seems to be bouncing off the 15800 area about five times so far. Think it is safe to say it will not drop futher given your analysis?
JonRulz
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@housinghunter, I based mine off a channel, I didn't think it would break it but it did. next stop is 15100. This is a strong support, It would be a good price to buy around.