Tickmill
Long

Bitcoin target reached! Testing support once again!

BITSTAMP:BTCUSD   Bitcoin / Dollar
Bitcoin has shot up from our support area to our major resistance area perfectly before reversing once again. We’re seeing strong support once again at 15455 (38.2% Fibonacci retracement , 61.8% Fibonacci extension , horizontal overlap support, bullish price action, bullish divergence ) and a strong bounce could occur at this level to drive price up to our major level of resistance at 17929 ( Fibonacci retracement , horizontal overlap resistance). Our next major level of support is at 13902 ( Fibonacci retracement , horizontal swing low support).

Stochastic (34,5,3) is seeing major support at 12% and we’re also seeing bullish divergence vs price which could be a precursor to a bounce.

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.
you're such an expert in your analysis, thanks!
Antworten
You correctly identified the support levels - do you anticipate a retest of the highs?
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BTC seems like a balloon leaking out
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+1 Antworten
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