Bitcoin Price Weekly Update: 20th – 26th January 2020

Bitcoin price hit our target last week and indeed went a bit higher than our intended target. Bitcoin price touched $9,200 before retesting the previous support, $8,714 which is now the resistance. We presently have a pullback but not confirmed to be a retracement. At the MACD section, we noticed the downwards cross of the MA’s but still above the zero mark. Before we can guarantee the next move we can ensure that bitcoin price crosses upwards. Take caution in your entries as bitcoin price might be forming a head and shoulder pattern soon.
Looking at the technical indicators:   
    • Major Support Level – $8,277
    • Major Resistance Level – $8,714

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for USD/BTC: for Naira/BTC:  If you have any questions, leave it in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.

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