Bitcoin had a slightly positive session during the day on Wednesday, as we continue to see support near the $10,000 level. What I find significant about this is that the $10,000 level also lines up quite nicely with the 61.8% Fibonacci retracement level, so therefore there are a couple of reasons to suspect there might be buying opportunities. However, I don’t see much in the way of volume, and that of course concerns me. Even though we are starting to see the market make a little bit of a stand in this area, the lack of volume is something that would keep me from getting overly excited. If we can break above the $12,000 level, I think we will go looking towards the $13,000 level. Once we get above there, then the market continues to go higher. This will be especially true if we get some type of volume, but right now it seems as if the volume is dropping, not gaining.
for more analysis: http://www.dailyforex.com
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