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easyMarkets
Jun 8, 2018 1:52 AM

Bitcoin testing major resistance, potential reversal! Short

Bitcoin / DollarBitfinex

Description

Bitcoin is testing major resistance at 7738 (Fibonacci retracement, horizontal swing high resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 7529 (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance at 90% where a corresponding reaction could occur.

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