Post
Topic
Board Speculation
Re: bitcoin prices to 11700$
by
timerland
on 30/04/2018, 10:40:29 UTC
due to the big support that bitcoin get near 6000$ the general trend goes up to 10000$ then to 11700$

https://www.mql5.com/en/charts/8608032/btcusd-d1-ingot-brokers-australia



this is only technical view ........

I wouldn't say that it's big support. There is some support at $9k right now, but doesn't mean that it can't be broken through if bitcoin doesn't make a move upwards soon. And that is the problem, in my opinion. The market has no upward momentum, and we just retested $10k with no avail. There is a huge chance that a pretty big correction is coming.

Of course, I'm not saying that $11700 is impossible. But it's unlikely, and even if it happens, it would be around the ceiling of this rally.

I'd bet on bitcoin finishing the year above $10k, potentially even above $12k with strong support at the 5 digit level. But right now I think we're still trying to consolidate at lower prices instead of moving up too much in a short period of time.