Bitcoin testing strong support, prepare for a potential bounce!
Price is testing our major support at 15581 (ascending support line, pullback support, 50% Fibonacci retracement, Fibonacci extension) and a bounce could occur at this level to push price up to at least 17214 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing major support above 8.3% where a potential 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.
Stochastic (21,5,3) is seeing major support above 8.3% where a potential 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.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results