BTCUSD HAS BROKEN OUT OF THE TOP OF ITS 28 DAY CONSOLIDATION AND HIT ITS FIRST RESISTANCE LEVEL AT $389.97. **LEVELS FROM BTCE:BTCUSD**
HERE IS A LIKELY PRICE SCENARIO FOR THE NEXT 3 WEEKS:
1. PRICE FINISHES CONSOLIDATION AT FIRST LEVEL AND BREAKS UP TO 400.84
2. CONSOLIDATES QUICKLY BETWEEN $389.97-400.00 AND MOVES INTO $420.00-430.00 RANGE
3. FALLS DOWN TO 400 AND POSSIBLE QUICK BOUNCE TO $389.00
4. SNAPS QUICKLY TO $440.00, BOUNCES OFF $430.00 UP TO $463.15-470.44
5. LAST 1-3 DAY CONSOLIDATION BEFORE HITTING $500.00 RANGE BY END OF FEBRUARY
UNLIKELY (BUT POSSIBLE) BEAR SCENARIO:
1. HITS UP TO 400.84 AND POSSIBLY $420-430 BEFORE FAILING TO BREAK
2. FALLS THROUGH $367.29 LEVEL AND HITS SUB $300.00 PRICES QUICKLY
3. WILL MAKE NEW TA MAPPING LEVELS IF BREAKS 367.29
HERE IS A LIKELY PRICE SCENARIO FOR THE NEXT 3 WEEKS:
1. PRICE FINISHES CONSOLIDATION AT FIRST LEVEL AND BREAKS UP TO 400.84
2. CONSOLIDATES QUICKLY BETWEEN $389.97-400.00 AND MOVES INTO $420.00-430.00 RANGE
3. FALLS DOWN TO 400 AND POSSIBLE QUICK BOUNCE TO $389.00
4. SNAPS QUICKLY TO $440.00, BOUNCES OFF $430.00 UP TO $463.15-470.44
5. LAST 1-3 DAY CONSOLIDATION BEFORE HITTING $500.00 RANGE BY END OF FEBRUARY
UNLIKELY (BUT POSSIBLE) BEAR SCENARIO:
1. HITS UP TO 400.84 AND POSSIBLY $420-430 BEFORE FAILING TO BREAK
2. FALLS THROUGH $367.29 LEVEL AND HITS SUB $300.00 PRICES QUICKLY
3. WILL MAKE NEW TA MAPPING LEVELS IF BREAKS 367.29