Bitcoin has dropped perfectly to our support, prepare for bounce
Bitcoin has dropped absolutely perfectly to our major support level as expected. We now see our 1st major support at 8890 (Multiple ABC Fibonacci extension, horizontal swing low support) and a strong bounce could occur at this level to push price up to at least 11970 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major support above 7.7% where a corresponding bounce could be expected.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is seeing major support above 7.7% where a corresponding bounce could be expected.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results