Bitcoin Daily Forecast - 11 October 2017

Published 10/11/2017, 08:49 AM
Updated 07/09/2023, 06:31 AM
BTC/USD
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Bitcoin Daily Chart

Bitcoin tops at the all time high at 4900/4979. As I have warned above, there is the risk of a double top sell signal. It is worth
trying shorts on any gains towards 4900 today, with stops above 5050 because the downside potential is huge & therefore the
profit potential. Already we have dipped to minor support at 4730/20 but below here targets 4620/10. On further losses look
for the next target & a short term buying (scalping) opportunity at 4560/50 where a low for the day is likely...and a bounce to
4610/20, perhaps 4710/20 possible. However longs need stops below 4370.


A break above 5050 stops us out of any shorts & acts as a buy signal despite overbought conditions, targeting 5080/5100 then
5240/50.

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