Obrano

200 SMA and 0.618 Fibonacci resistance, short targets for BTC

Short
BITFINEX:BTCUSD   Bitcoin
As you can see BTC merely broke 200 SMA and 0.318 Fibonacci level, from which it bounced back. If BTC manages to broke those resistance lines next target would be downtrend line around 11200$ zone. If BTC does not manage to break those lines first stronger support would be on 0.382 Fibonacci line or zone level around 10200$. Other Fibonacci levels should also provide some support lines, my expectations if BTC continues with upside movement we will accumulate between 10400 and 10700 until first two resistance lines are broken, that should bring us to the downtrend line from which we have bounced three times already.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.