• Jono Solo

Bitcoin Price Analysis Today January 07 2017


In trading, round number have a certain psychological impact. Yesterday, the bitcoin price broke above the $4000 level and right now it is still managing to remain above it.

Bitcoin price reached $4085 before declining a bit. The next short term resistance is $4100 then the next challenges will be at $4250 and $4500.

I currently have 1 live position at $4000 and 3 bitcoin buy orders at $4130, $4270 and $4530.

The low line of the Donchian channel is still at $37332 but it is about to move up pretty soon. Therefore allowing me to raise my stop loss too.

Most major cryptocurrencies have made a clear move to the upside except for Ripple XRP which is still trading within $0.34-$0.38 range. A Ripple price breakout is imminent.

This is my bitcoin price analysis for today and it is not financial advise.

To learn more about bitcoin and cryptocurrency trading, join our trading club here.

Have a great week,

Jono

#bitcoinpriceanalysistoday #bitcoinprice #ripplexrp #rippleprice #cryptocurrency

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