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BITCOIN ACHIEVES THE FIRST TARGET – ANALYSIS - 14-12-2017

Bitcoin price managed to confirm breaking 16385.00 level and rallied bearishly to touch our first waited correctional target at 15740.00, and as long as the price is below 16385.00, the bearish bias will be suggested for the upcoming period, noting that our next correctional target is located at 15220.00.

Therefore, our bearish overview will remain valid for today, taking into consideration that breaching 16385.00 will stop the current negative pressure and lead the price to regain its main bullish track again, targeting 17430.00 followed by 17660.00 areas initially.

Expected trading range for today is between 15220.00 support and 16700.00 resistance

Expected trend for today: Bearish

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