Bitcoin analysis for December 14, 2017


Bitcoin (BTC) has been trading sideways at the price of $16,450. Following her next-to-last Federal Open Market Committee (FOMC) meeting, outgoing Federal Reserve (Fed) Chairwoman Janet Yellen gave a final scheduled press conference 13 December 2017 in Washington, DC. In a growing sign of its influence, once again bitcoin was introduced as a topic for consideration at the highest levels of finance. No fewer than three times did cryptocurrencies make their way into the discussion: regulatory policy, prospects of a Fed Coin, and bitcoin’s threat to financial stability. Technical picture looks neutral.

Trading recommendations:

According to the 1H time – frame, I found a head and shoulders formation in the background, whic isa sign that buying looks risky. I also found a rounding top in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $15,605 and at the price of $14,300.


$17.110 – Resistance 1

$17.520 – Resistance 2

$15.605 – First downward target

$14.300 – Second downward target

With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.

The material has been provided by InstaForex Company –

Source:: Bitcoin analysis for December 14, 2017

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply