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easyMarkets
Dec 7, 2018 2:48 AM

BTCUSD approaching support, potential bounce! Long

Bitcoin / DollarBitfinex

Description

BTCUSD is approaching our first support at 2988 (61.8% Fibonacci extension, horizontal overlap support) where a strong bounce might occur above this level pushing price to our major resistance at 3680 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance.

Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Comments
alexcph
In this video I explain how you can identify a reversal pattern on high timeframes.
weslad
BTC recovery and bottom searching could 3k zone hold or fail? check this out to learn more.

ArShevelev
P_S_trade
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