In our previous bitcoin technical analysis, it was expected price could jump from 6700 towards minimum 8100-8300 level. This is what happened in bitcoin movement, price bounce and currently trading near to its resistance zone around 8600-8700 level.I am expecting a bearish movement from current price towards next support level which could be the final move and price may break this falling wedge soon. I am sharing bitcoin price forecast today update to give my view of next movement.
Bitcoin Price Forecast Today Update 10th Feb 2018
Bitcoin trading price is near to its resistance level around 8600-700.We are expecting a downward movement from current level to towards the support which is forming around 6700, 6100 and 5300 in case of extension.
The price could break its falling wedge pattern from its narrow ending which will lead BTC to bounce towards 9000$ level from the breakout area mentioned in the chart below.
If price fails to move downward and break the resistance from its current level then we will have to wait for the bottom line to jump in for the support zone, in that case, we will still look and wait for the price to come at its support level again for buying opportunity.
I will update the bitcoin forecast if price breaks its resistance line earliest then expected.
Please have a look at Bitcoin Price Forecast Today Update chart, I have created the possible movement diagram with target levels.
Bitcoin Suppor & Resistance Levels
Support 1: 6700
Support 2: 6100
Support 3 : 5300
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Mati Ur Rehman
Gold Analyst @ Dailygoldanalysis.com