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Bitcoin bouncing nicely from support, potential for further rise

Long
Bitcoin (BITFINEX:BTCUSD)  
Tickmill Broker  
BITFINEX:BTCUSD   Bitcoin
Trend Analysis Harmonic Patterns Chart Patterns Bitcoin (Cryptocurrency) bitcoinlong bitcoinshort bitcoinidea BTCUSD btcusdlong btcusdshort btcusdidea Cryptocurrency
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trendanalysis harmonicpatterns chartpattern bitcoin bitcoinlong bitcoinshort bitcoinidea btcusd btcusdlong btcusdshort btcusdidea cryptocurrency
Bitcoin has dropped to our 1st major support as forecasted and is now bouncing off it strongly. Our 1st support is at 10319 (Fibonacci retracement, horizontal overlap support) and our major resistance is at 12970 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).

Stochastic (34,5,3) is seeing a nice bounce above 7.2% support with good upside potential.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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