Bitcoin tests the resistance again – Analysis - 14-02-2018

Bitcoin price returns to test the key resistance at 8960.00, which represents the neckline of the bullish pattern that its signs appear on the chart, which urges caution from the upcoming trading, as breaching this level will push the price to achieve gains that start at 10748.00 and extend to 12852.65, especially after the price found difficulty to return to the main bearish channel.

Now, we prefer staying aside temporarily to monitor the price behavior according to the key levels represented by 7980.00 support and 8960.00 resistance, noting that breaking this support will push the price back to the main bearish channel and visit 6039.30 level as a next main station.

Expected trading range for today is between 6500.00 support and 10500.00 resistance

Expected trend for today: Depends on the above mentioned levels