18 Jan 2019 #Bitcoin
On Thursday, January 17, trading ended with the growth of a pair of XBTUSD. The intraday pattern is V-shaped with a “bullish” body. Another valid point to consider is that the pair has been trading within the price range of January 14th for consecutive three days already. Consolidation is reminiscent of the outset after the rally on December 28, 2018. The price of eight days was inside the range of $ 392.
If we take the ratio between the pulse waves on December 28 and January 14, then it is 0.62%. If we take the correctional model from 12/28/18 to 1/6/19 as a basis and apply a ratio of 0.618 to it. If the market forms something similar to what we have seen in the above mentioned dates, then we should see the exit upwards around January 19th , with a target price of $ 3,863 (see chart). The goal is relevant until the price is above $ 3525.
After the price rebounds from $ 3,479, a flat should not be here. He points out that there are enough sellers in the market. If buyers are not able to swallow the entire volume, then the rate of Bitcoin through the channel will drop to $ 3365. At the moment, the market is balanced on the clock (the price is on the middle line 55), so I expect a new test of $ 3,660.
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2021 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.