Technical Analysis Blog | PUG Stock Market Analysis, LLC

PUG Stock Market Analysis is here to help with Gold technical analysis, stock analysis and more. Read our technical analysis blog to learn more today.

February 4th, 2017: BTC Chart Update

Posted by pugsma on February 4, 2018

5:40 pm EST:   BTC/USD Daily Chart shows a potential bullish falling wedge with over sold RSI(14) that has produced a bottom the past three times during year 2017.   Also today’s low at 7840 is very close to a 62% Fibonacci retracement of 7599 from the 19,891 high.   A bullish falling wedge will typically produce a significant bounce of at least a 78% retrace, which would be a move up to 17,240 basis 19,891 to 7840.

BTC/USD Daily Chart:



Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: