Bitcoin Forecast February 14, 2018

Bitcoin markets fell during most of the session on but as you can see have turned around to form a bit of a hammer which of course is a bullish sign. I think there is a lot of resistance above though, and it’s not until we clear the $10,000 level that I feel a true statement has been made. At this point, volume is very low, and that isn’t exactly the most positive of factors. However, if we were to close above $10,000 on a daily candle, then I would more than likely look at this as a market that can be bought again. In the meantime, I anticipate that rallies will probably get a bit of a push back, and I think that the market needs to consolidate more than anything else. Quite frankly, the more we consolidate the more confidence we can build in what probably has been a very shocking turn of events for most retail traders.

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