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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:

Bitcoin

 

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