BTC’s price moves: Head and shoulders means solid bottom in for now.

As i wrote about a month ago, technical analysts I was speaking with saw bitcoin setting a floor at $8K market and would build off that.

It bounced numerous times off the $8k mark and put a floor in at $6,500 before moving higher.

Now as the price has moved towards $11,000 I have asked the Wall Street  technical analyst and a securities trader what their thoughts are for the rest of February.

The technician sees the price hitting $12,000 and then trading in a range. “I’m looking at a move up to $12K and then having to establish a floor near $10,500 before be able to go higher.”

“It’s good to see higher highs and higher lows over the last week,” said the trading vet. “This means a buying opportunity when you see a head and shoulders,” he added.

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One thought on “BTC’s price moves: Head and shoulders means solid bottom in for now.

  1. Pingback: BTC’s price moves: Head and shoulders means solid bottom in for now. – CryptoNews – Cryptocurrency news, bitcoin, ethereum, blockchain, smart contracts

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