Bitcoin Marches Higher [Bitcoin Price Update 2/17/2018]

in #bitcoin7 years ago

btclogo.png

Bitcoin's bullish move continues and BTCUSD marches higher. The daily 34 EMA is valued at $12,410 and will be a formidable zone of resistance.

Daily Chart

daily.PNG
34 EMA: $10,205
89 SMA: $12,410

The daily chart shows the first signs of bullish life with the Bitcoin price now valued above its 34 EMA. However, caution persists until BTCUSD can trade above its 89 SMA and the fast moving average crosses above the slower one. The next resistance zone is the 89 SMA at $12,410, and support comes in at the 34 EMA at $10,205.

4-Hour Chart

4-hour.PNG
34 EMA: $9,725
89 SMA: $8,675

The strong advance on the 4-hour chart continues, and the bullish chart structure remains intact. BTCUSD continues to extend above its rising moving averages. The rising 34 EMA at $9,725 will provide support.

DISCLAIMER

This post is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action.

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above 12k sounds good to me

Yup, me too. The real question, for me, is, can the price sustain above $12,400? If so, we should be in for a nice bullish run for the rest of the year.

Yeah thats true alot depends on the media