Tickmill
Panjang

Bitcoin testing major support, potential for a bounce!

BITFINEX:BTCUSD   Bitcoin / Dolar
Bitcoin is now testing major support at 9032 ( Fibonacci retracement , horizontal overlap support) and a strong bounce could occur at this level to push price all the way up to major resistance at 1172. If it breaks this level, then the next major support is at 8181 ( Fibonacci retracement , horizontal swing low support).

Stochastic (34,5,3) is seeing major spport at 3.1% where a corresponding bounce could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Guys, get more real-time updates on our trading ideas here : https://t.me/tickmillroom

This analysis is provided as general market commentary and does not constitute investment advice.
Are you ignoring the Double Top on purpose? Oorr??
Balas
Nope, we are headed further down. Look at all the technicals... just because RSI shows oversold doesn't mean we are going up.

Balas
Strong support at 81xx. Hope to bounce from here soon.
Balas
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