Bitcoin Price Analysis April 16 / 2018

“As of now, next target levels is the $8,400 resistance and afterwards the $9,000 strong resistance level. RSI is very high so we can expect a correction back to the $7,500-$7,800 area, where also MA-200 lies (resistance turned support).”

The pink line is the MA-200, Bitcoin had a revision down to $7,800 and got upheld on the MA-200. from that point as far as possible up to the $8,400 protection level.

Starting at now, union between the $7,900 to the $8,400 zone. A breakout will send us to test the solid $9,000 protection level. From the bear side, separating the $7,900-8,000 help will send us to the following level at $7,500 territory. For whatever length of time that we remain there – the general picture
looks splendid.

BTC/USD BitFinex 4 Hours chart

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