BTCUSD on a Support/Resistance level?

Dec 22, 2017

BTCUSD had a good drop in the last 3 days.

It now reached an area that can form a horizontal support; this would be the third touch so in case it holds we are going to see further move upwards.

As a soft resistance, we can also look at the diagonal trendline in figure - even if on the 10 December there was not a real touch.

Given the high volatility of the currency, augmented by several news in this week (and more to come by the end of the year), caution is advised.



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Original from my blog

Dec 28, 2017

Note

Treandline still holding and now functioning as resistance