BTC/USD Weekly 201701013Crypto 

Bitcoin/USD price action analysis (BITMEX Perpetual Swap, XBTUSD) update 20170113

Monthly Perspective

Bitcoin price action climax, perfectly coordinated with the Fibonacci Time Zone has been reached in January 2017.

BTC/USD Climax of Jan 2017
BTC/USD Climax of Jan 2017

Next climax 1593 USD (1.618 Fibo of the previous impulse) expected in November 2017.

BTC/USD Forecast for November 2017
BTC/USD Forecast for November 2017

Currently it is holding major support 0.5 Fib of the five-wave impulse at 710 USD, although further decline down to 0.618 Fib (599 USD) cannot be ruled out.

BTC/USD major support 0.5 Fib five-wave impulse for Jan 2017
BTC/USD major support 0.5 Fib five-wave impulse for Jan 2017

Weekly Perspective

On weekly chart the price has rolled down to the 2/1 Gann angle, heading down to strong support zone at 3/1 Gann angle and 0.786 Fib of the wave four around 620-630.

BTC/USD Weekly 201701013
BTC/USD Weekly 201701013

Daily Perspective

On daily chart BTC is falling hard within Gann 1/8 angle. It finds support at Ichimoku Senkou (Leding) Span B and sees resistance at Gann 1/4 angle.

BTC/USD Daily 2017-01-13 falls within Gann 1/8, finds support at Ichimoku Senkou Span B.
BTC/USD Daily 2017-01-13 falls within Gann 1/8, finds support at Ichimoku Senkou Span B.

Short-term Perspective

Bitcoin is in sell-off mode, though MACD divergence and Money Flow Index suggest weak (no volume) up move in the near term with resistance at 993.

BTCUSD near term perspective 2017-01-13 (H4)
BTCUSD near term perspective 2017-01-13 (H4)

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