Bitcoin Analysis January 22, 2018

BTC/USDBitcoin markets rallied a bit during the day on Friday, but continue to find resistance at the $12,000 level. The stochastic oscillator is in the overbought area, and looks likely to cross soon. There is very little in the way of volume, so I suspect that the market is going to continue to favor selling. It is not until volume picks up on a move higher that I am comfortable going long. At this point, I think we are much more likely to see the market drop to test the lows again. If we were