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Bitcoin bounced perfectly as forecasted, prepare for bounce

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Bitcoin (BITSTAMP:BTCUSD)  
Tickmill Broker  
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Harmonic Patterns Chart Patterns Bitcoin (Cryptocurrency) bitcoinlong bitcoinshort bitcoinforecast crytocurrency btcusdlong btcusdshort bitcoinidea crytpocurrency
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trendanalysis harmonicpatterns chartpattern bitcoin bitcoinlong bitcoinshort bitcoinforecast crytocurrency btcusdlong btcusdshort bitcoinidea crytpocurrency
Bitcoin bounced right up to our first major resistance perfectly as forecast previously! It is now right on major support at 11060 (50% Fibonacci retracement, horizontal swing low support, Fibonacci extension) and a strong bounce could occur at this level to push price up to at least 12912 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).

Stochastic (55,5,3) is seeing major support above 7.6% where it is bouncing nicely off and has good upside potential for our bounce.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results

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