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Bitcoin reaching our major support!Watch for break of this level

Short
Bitcoin (BITSTAMP:BTCUSD)  
Tickmill Broker  
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Harmonic Patterns Chart Patterns Bitcoin (Cryptocurrency) bitcoinshort bitcoinlong BTCUSD btcusdlong btcusdshort btcusdidea bitcoinidea Cryptocurrency
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trendanalysis harmonicpatterns chartpattern bitcoin bitcoinshort bitcoinlong btcusd btcusdlong btcusdshort btcusdidea bitcoinidea cryptocurrency
Bitcoin has dropped absolutely perfectly after breaking our ascending support and has reached our major support at 9500. We are now watching key support at 9509 (major swing low support, Fibonacci retracement) where a clean break of this level would open a potential drop to 7572 support (Fibonacci retracement, horizontal overlap support).

RSI (34) remains under immense bearish pressure from our descending resistance line.

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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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