Starting of 2017 is good for bitcoin investor.
Strong resistance at 1100 level in daily chart.
Consolidation period over now, but bitcoin just keeps moving up. Price already corrected a little earlier last week. Bitcoin back up and running to the upside, and the bitcoin price managed to break through the 1100 mark early morning out of Europe. It is looking that for the long term bitcoin will remain make new high. In these analyses, what we’re interested in is the short time period . Price of Bitcoin continues to run up, which is great for everyone and we see some downside action, which is looking at 950 USD where strong treadling support exist.
In this upside volatility will remain high. you can see chart there upper trend line showing resistance at 1100 level . This level will become breakout in future.
The 100 EMA is still on the 200 EMA also showing in hourly chart.
Stochastic is on the move up once more, without giving any oversold signal, which means that buyers are regaining control of bitcoin price action. If bullish pressure is strong enough, traders could push for a break towards the $1100 level, just slightly above the channel resistance.
Bitcoin price can fall upto 950 USD befor start new high