Bitcoin Technical Forecast: May 15, 2018

www.investing.com/analysis/bitcoin-daily-forecast--15-may-2018-200316217

By Jason Sen | May 15, 2018 04:14AM ET

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The key to Bitcoin's direction is first support at 8625/8600. Holding here allows a recovery to resistance at 8850/8900. The outlook remains negative – try shorts with stops above 9000. However we then meet quite strong resistance at 9120/50. There are many strong barriers for bulls to over come with resistance again at 9250 and 4-month trend line at 9450/9500.

Holding below 8600 keeps bears in control targeting 8500 & 8350 before the low at 8210/00. A break lower is expected eventually targeting 7800 and the the most important of the week at 7550/7500. We should bounce off here on the first test to ease oversold conditions. I do not think this level will hold for ever though.

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.90%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

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Bitcoin Technical Forecast: May 15, 2018

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