Bitcoin technical analysis

By @eviljedi11/23/2017bitcoin

Hello Steemit once again!

I know I haven't been around to share my wisdom for quite a while now. But I am back and there is a reason for that. Crypto-currency market has been in decline so there wasn't much else to say, than just to **HODL** Bitcoin. But the market is changing and the last two weeks have been interesting both for Bitcoin and altcoins.

USDT-BTC 1D Bittrex
BTC 1D.JPG

Bitcoin about to go up!

USDT-BTC daily shows a resistance line around $8250 and trend-line coming from mid September that works as a support. [Ascending triangle](https://www.google.lv/search?q=ascending+triangle&source=lnms&tbm=isch&sa=X&ved=0ahUKEwifvc6F7tTXAhXDB5oKHZREAYoQ_AUICigB&biw=1536&bih=734&dpr=1.25) is completing as we speak with price target around **$9500**. I know that yesterday was a daily **9** ([Tom Demark Sequential](http://practicaltechnicalanalysis.blogspot.com/2013/01/tom-demark-sequential.html)) for a [Tone Ways](https://twitter.com/ToneVays) favorite indicator and many have been saying that Bitcoin has topped for the year. But weekly chart is still on the **8** ([Tom Demark Sequential](http://practicaltechnicalanalysis.blogspot.com/2013/01/tom-demark-sequential.html)) and I have a strong feeling that this one is not breaking downwards and the price breakout is imminent. So I would suggest looking for a good timing to take profits on the top and buying the dip after the pullback.

Altcoins

Don't have enough time to do proper charting and price targets, but I went trough top 10 market cap altcoin charts and I have to say that **Ethereum, Litecoin and Monero** look bullish. There are many good trades to be made this and next week for sure. I will try to make some time tomorrow to do another post with technical analysis on them. So stay tuned!

Previous posts

  • Bitcoin technical analysis after August 1st:
  • https://steemit.com/bitcoin/@eviljedi/bitcoin-technical-analysis-after-august-1st
  • Ethereum Classic technical analysis:
  • https://steemit.com/trading/@eviljedi/ethereum-classic-technical-analysis
  • STEEM technical analysis:
  • https://steemit.com/trading/@eviljedi/steem-technical-analysis
  • Bitcoin Cash (ViaBTC) - User Activated Hard Fork (UAHF):
  • https://steemit.com/bitcoin/@eviljedi/bitcoin-cash-viabtc-user-activated-hard-fork-uahf

If you like my content
Don't forget to Upvote, Resteem and Follow me @eviljedi

11

comments