Bitcoin Analysis December 28, 2017

BTC/USDBitcoin rallied a bit during the trading session on Wednesday, but seems to be struggling with the $16,000 level. The stochastic oscillator on the 4-hour chart is crossing over in the oversold area, so I think we are probably going to pull back. However, there is a significant amount of support below, especially near the $13,000 level. I think it is only a matter of time before the buyers return to this market, but I would like to see some type of bounce first before putting money to work