HomeContributorsTechnical AnalysisBTCUSD Watching $17,400

BTCUSD Watching $17,400

Bitcoin has incurred a heavy technical sell-off after the pioneer cryptocurrency crashed by over $1,500 within a period of less than two hours. Technical analysis shows that a head and shoulders pattern may be forming, with the neckline of the bearish pattern located around the $17,400 level. Traders that are bearish towards the BTCUSD pair may attempt to sell into recovery around the $18,600 area.

The BTCUSD pair is only bullish while trading above the $17,400 level, key resistance is found at the $18,000 and the $18,600 levels.

If the BTCUSD pair trades below the $17,400 level, sellers may test the $16,000 and $14,800 levels.

Octa
Octahttp://octaengine.com/c/?p=203&bt=gif&b=2369
Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

Featured Analysis

Learn Forex Trading