After major correction BITFINEX:BTCUSD
seems to be moving slowly with small corrections. Based on the previous data we can see that price reversed from the 61.8% retracement
and now its repeating the same pattern. RSI
,momentum and MACD
indicate downward pressure, As long as the price doesn't violate the trend line
, it is still in a positive cycle and if it does then the possible reversal levels are between 13500-14200. If price breaks below this then the next support is at 11500 level.
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