Bitcoin Price Update – 3/21/17

Since the $20k high, Bitcoin has almost flawlessly followed the Fibonacci Speed Resistance Fan. The current channel it is in suggests a $9.6k top. This price is also the long-term downtrend line. I will be scaling in a short position in the $9.2k – $9.5k range. First target price is $7,950. Final target price is $6k.

3-21-17 BTC

See full chart HERE.

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