tolgi

BTCUSD CEX.IO Drop to $6034.90 (fibonacci 0,236)

CEXIO:BTCUSD   Bitcoin / U.S. Dollar
Hello, people!

Here is my amateur analysis of BTC             for next 2-3 days.

1. We are still going down within the channel. After we touch $6,000 we will try to break through fibonacci levels 0,382 and close there firmly.
2. Fibonacci shows next major support at 0,236.
3. We are still below moving averages 20, 50 and just touching 200.
3. MACD shows downtrend on 4hr, 1hr and smaller time frames.
4. Volumes are decreasing.

In conclusion: We need to break through the descending channel in order to see growth to next major resistance level .

Best regards,
Comment: Still moving towards $6,000 unless we break through the channel and see solid "buy" volumes.
Comment: Barely broke the channel resistance, but we need to close firmly there for a day to expect further growth. If we close below $8,300 we can still have a fall to $6,000
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