c Bitcoin Price Forecast 27th January 2018 | Bitcoin Analysis

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Bitcoin Price Forecast 27th January 2018 | Bitcoin Analysis

Bitcoin

Bitcoin Price Forecast 27th January 2018 | Bitcoin Analysis

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In our previous Bitcoin Analysis, It was expected the price will move low but it will remain above the previous low because of rising support forming in 4-hour chart.The price moves exactly according to the expectations and made a low near 9927 zone which is slightly above our expected support area.

I am sharing 4-hour time frame update bitcoin analysis below.

4-Hour Bitcoin  Analysis 27th January 2018

I am still expecting, the price could touch its support level again before a bounce and could hit 12800-900 level again which is strong resistance.however if bitcoin breaks and close below the support zone in a daily time frame chart, it will be the indication for more bearish move towards the minimum 6000$ area.

Please have a look at bitcoin 4-hour chart below.i have drawn a possible movement diagram on it.

Bitcoin 4-Hour Price Chart

Bitcoin Analysis

 

Bitcoin Support & Resistance Levels

 

Bitcoin Support Zone: 9930-9950$

Bitcoin Resistance Zone: 12800-900

Support Break Confirmation Area: 9200-300

Note: We will consider break after the closing of daily candle.

 


Wish you good luck and happy trading

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Feel free to comment below if you have any concern regarding charts and analysis.Your feedback is always welcome and helps us to improve.

Wish you good luck and happy trading with Gold Technical Analysis

Mati Ur Rehman 

Gold Analyst @ Dailygoldanalysis.com

Mati

Mati Ur Rehman is a forex trader having 11 years experience in the field and knows as a technical analyst. He is an expert in XAUUSD Gold Analysis.

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