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Bitcoin Technical Analysis

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Daily technical analysis based trade tips and ideas for Bitcoin. Our report outlines clear and precise trade entry levels with profit targets and stop loss levels across a broad range of prices for the intraday. To gain an edge in the markets, successful professional traders need a daily trading plan and must be aware of important support and resistance levels. We ensure you are fully prepared to maximise profitable trading opportunities throughout each day, minimising your risk, maximising your profits and taking away the element of gambling.



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Bitcoin we wrote: higher again as expected hitting the 4650/4700 target & just 25 pips from the all time high at 4900/4979.

WE TOPPED AT 4909, JUST 70 PIPS FROM THE ALL TIME HIGH AT 4979 BUT WE HAVE A NEGATIVE CANDLE IN SEVERELY OVERBOUGHT CONDITIONS, WHICH RISKS THE FORMATION OF A DOUBLE TOP SELL SIGNAL.
Today's Analysis
11 October 2017 Updated at 00:27am GMT
Bitcoin tops at the all time high at 4900/4979. As I have warned above, there is the risk of a double top sell signal. It is worth trying shorts on any gains towards 4900 today, with stops above 5050 because the downside potential is huge & therefore the profit potential. Already we have dipped to minor support at 4730/20 but below here targets 4620/10. On further losses look for the next target & a short term buying (scalping) opportunity at 4560/50 where a low for the day is likely...and a bounce to 4610/20, perhaps 4710/20 possible. However longs need stops below 4370.

A break above 5050 stops us out of any shorts & acts as a buy signal despite overbought conditions, targeting 5080/5100 then 5240/50.
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Technical Analysis Bitcoin
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