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Bitcoin a Technical Analysis Update

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theatdhe
@theatdhe
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Bitcoin and Ripple has been in the focus of all traders, investors and authors! I made a few posts on them as well because there is something very interesting happing on these two cryptocurrencies.

Let me show you the BtcUsd charts:

Price found support on 26232 and got closed with a beautiful bullish engulfing candle back in 28th Dec, breaking and closing above the previous resistance zone at 26724 we expected a bullish push that would break that and reach 30, instead we got in to ranging for some time but 26210 was holding pretty nice.

What about now?

Looking on the 4hr TF the last 3 candles were beautifully bullish. The first one is what we call Hammer or kangaroo tail, and we see that it closed above the minor resistance area 26724. Right now price is standing at a very significant area 27791 that acted like a strong resistance zone. Checking on lower timeframes we see that we came pretty strong near the zone. I expect price to find support on 27410 before we have another bullish push to break that 27791 and as we've mentioned before after this break we expect to touch the 30k area!

Happy trading everyone!

theatdhe!

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