Buy bitcoin: BTC 1 = AU $ 
Sell bitcoin: BTC 1 = AU $ 
Buy Ether: ETH 1 = AU $ 
Sell Ether: ETH 1 = AU $ 
Buy XRP: XRP 1 = AU $ 
Sell XRP: XRP 1 = AU $ 
Buy Litecoin: LTC 1 = AU $ 
Sell Litecoin: LTC 1 = AU $ 
Buy bitcoin: BTC 1 = AU $ 
Sell bitcoin: BTC 1 = AU $ 
Buy Ether: ETH 1 = AU $ 
Sell Ether: ETH 1 = AU $ 
Buy XRP: XRP 1 = AU $ 
Sell XRP: XRP 1 = AU $ 
Buy Litecoin: LTC 1 = AU $ 
Sell Litecoin: LTC 1 = AU $ 
Buy bitcoin: BTC 1 = AU $ 
Sell bitcoin: BTC 1 = AU $ 
Buy Ether: ETH 1 = AU $ 
Sell Ether: ETH 1 = AU $ 
Buy XRP: XRP 1 = AU $ 
Sell XRP: XRP 1 = AU $ 
Buy Litecoin: LTC 1 = AU $ 
Sell Litecoin: LTC 1 = AU $ 
Buy bitcoin: BTC 1 = AU $ 
Sell bitcoin: BTC 1 = AU $ 
Buy Ether: ETH 1 = AU $ 
Sell Ether: ETH 1 = AU $ 
Buy XRP: XRP 1 = AU $ 
Sell XRP: XRP 1 = AU $ 
Buy Litecoin: LTC 1 = AU $ 
Sell Litecoin: LTC 1 = AU $ 

Bitcoin Weekly Analysis — 14/05/18

May 14 2018 · by Rabbi Ahmed
Category:  Market Analysis

Weekly technical analysis: 14 May, 2018

Bitcoin has had a break down out of the consolidation from last week. We absorbed some strong bids just above our first support of $8,100. This coincided with the 50% retracement of the rally from the lows of April ($6,430).

The potential play this week is to accumulate (buy) at the support levels (see below), with take profit at the resistance levels.

Support levels:

  • $8,100
  • $7,200 - $6,850

Resistance levels:

  • $11,800
  • $13,000

This week, the biggest crypto summit of the year, Consensus, begins.

Consensus conference statistics and bitcoin gains

The chart above, put together by Fundstrat and improved for visual quality, demonstrates the historical moves during this period. If we follow the same pattern, we may see a strong leg up initiated this week.

Time will tell. We’ll be back again next week for another market analysis.


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