JureKrasovic

BTC/USD possible long opportunity

BITSTAMP:BTCUSD   Bitcoin
Looking at the chart we can see, that the price has made a double bottom pattern at the 0.618 Fibonacci retracement. It made a bullish move as expected and broke above the 0.786 Fibonacci retracement, making it a support line by holding the price above after the price has touched it. Expecting a further bullish move towards the 19767,46 line. This is where the price was unable to go further up at the last bullish surge. Expecting a retest of this line as resistance. If there is no breakout at this point, a double top pattern may form pushing the price back down. If a breakout happens, looking for another retest of the resistance line, and a bullish bounce up.
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