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September 23, 2018

Bitcoin analysis for 02/11/2017

Nov 06, 2017

Bitcoin analysis for 02/11/2017

The Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $7.345. China's major exchanges have found a legitimate means through which to continue operations despite the Chinese government crackdown on cryptocurrency exchanges. The technical picture looks bullish.

Trading recommendations: According to the 1H time frame, I found strong upward momentum in the background. I also found successful testing of the upward trendline, which is a sign that buyers are in control.

My advice is to watch for potential buying opportunities. The upward targets are set at the price of $7.349 and $7.945. Support/Resistance $6.695 – support cluster $7.345 – intraday resistance $7.945 – short-term upward you can earn on cryptocurrency's movements right now.

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