Bitcoin price december 2017 price chart2/19/2023 ![]() ![]() The views and opinions of the writer should not be misconstrued as financial advice. To get receive updates for the writer you can follow on Twitter ( and TradingView. Trade Bitcoin (BTC), Litecoin (LTC) and other cryptocurrencies on online Bitcoin forex broker platform evolve.markets. Returning to the weekly chart, we can see that bitcoin continues to reach out towards the 38.2% retracement level which is currently acting as a magnet, attracting BTC to the mid $9000s.Īssuming that bitcoin can regain $8200, it would be reasonable to assume that the bulls will make it their intention to test around this region.Īs we come to the final phase of the parabola, which can offer the highest returns but also carries the biggest risk, all eyes will be on bitcoin once again. ![]() ![]() We can however see that there is supply overhead around the $9k area as we would expect. Order BookĪ brief look at the overbook, illustrates quite clearly that there is quite sizable buying interest below, as illustrated by the yellow blocks, which further supports the idea that the bulls are not done yet with bitcoin this week. Lose yesterday’s lows of $7600 and that would mean a break in the parabola and a test of much lower prices. If BTC/USD can put in a new high, its hugely increases the odds of bitcoin testing $9k before the end of the week. ![]() Since then, a sharp v-shaped reversal has occurred and bitcoin now looks to have put in a higher low, which is very encouraging for the bulls.īitcoin now needs to break $8k, with $8200 being a critical level. ![]()
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