Bitcoin has
reached overbought price in the last sessions, broke the triangle figure
upwards and the rise already fulfilled the size of the base of the triangle,
reason why price corrections are expected. You can send your rewards
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 |
| In both the daily and weekly charts and the monthly chart, the currency is heavily overbought |
Bitcoin has
reached all-time highs, a strong rise over the last two weeks, the demand for
the currency is due to expect new Federal Reserve rates and approval of ETF
investment fund by the SEC, next 11 Of March, that would help to capture much
more money in favor of the digital currency. However Bitcoin is in overbought
areas, very expensive, it is not offering opportunities for tickets for
purchases. It came out of the triangle figure in which it was moving, with a
strong rise, however and as the climb has reached the point of stabilization
and profit taking, so we could see important cuts or corrections in the coming
days. In both the daily and weekly charts and the monthly chart, the currency
is heavily overbought and you could expect setbacks of up to $ 915, excellent
price for long entries again and expect the trend to continue, as marked by the
Elliot Waves in the Monthly graphs, that is in the long term. Cutbacks could
range as much as $ 880. According to Fibonacci setbacks, a profit-taking cut of
$ 1,014.79 with the 23.6% indicator will match the short-term moving average in
the weekly charts, but a strong cut indicates that the Fibonacci index, 38.2%
in the weekly chart, coincides with a strong support at 863.50 dollars, so that
in coming sessions, below 1,000 dollars Bitcoin will be giving new
opportunities to enter bullish, although Prices have been rising, buying
volumes do not accompany the rise, producing a corrective bearish divergence to
manifest in few sessions. Forecast price of EnEfectivo to enter longs: 960 to
990 dollars.
Prices are
referenced with the BTC-e platform
Date of
forecast: March 5, 2017
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