Bitcoin Technical Analisys From 8 To 14 Of January, 2018
Bitcoin price trades steadily above $ 12,600. In the near future, BTC/USD may rise above $ 14,500 and overcome $ 15,000 in the short term.
Last week, the price of bitcoin was slightly bearish, as it moved below $ 14,000. The price traded lower and advanced to a level of $ 12,200. The lowest level was formed at $12,670, and than the price started to move up. Bitcoin trades above $ 13,000 and a 23.6% Fib from $ 17,112 to $ 12,670.
During the growth, there was a break over the main bearish trend line with resistance at $ 13,800 on the 4-hour chart of BTC/USD. The pair moved above the level of $13,900. Nevertheless, the upside move has protected by a level of $ 14,000 and 100 simple moving average. In addition, 38.2% Fib retracement level of the last decline from $ 17,112 to $ 12,670 low acted as a resistance also. It seems that the price have to exceed $ 14,500 and 100 SMA to gain growth momentum.
As soon as a break above the level of $ 14 500, there is a possibility that it will break the level of $ 15,000 USD in the short term. The price is stable above the level of $ 12 500 with initial support decreasing by $ 13,200.
4-hour MACD shows several positive signs of trend change.
4-hour RSI struggles to move above level 50.
The main level of support is $ 12,500.
The main resistance level is $14 500.