BTCUSD Hit Potential Support @ $51,689

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin posted new highs last week by breaking the $58,109 local high level. From here, the price sank below $55,218 and is trending sideways in between the uptrend and downtrend formed inside this falling wedge .

I'm expecting Bitcoin to continue consolidating in between these two lines and from here right now actually wick $55,218 as well as the downtrend before moving back down and going lower before we post higher highs such as hitting $68,361 (3.618 Fib level).

Bitcoin is in the middle of a reversal and looks like it just bounced off of the $51,689 level as a potential support. If this level holds true, expect BTC to wick $54,028 and $55,218 as TP’s before pulling back down.

If we lose the $51,689 level of support, the next level its going to wick is $47,140.

As always please do your own research, I am not a financial advisor.
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+3 Reply
kyer Stephenanderson
@Stephenanderson, Thank you
Great work
+2 Reply
kyer John_Moree
@John_Moree, Thank you!
+2 Reply
kyer Cress-morris
@Cress-morris, Yessir appreciate it thanks
kyer NusratJahan
@NusratJahan, No problem!
Nice idea - thanks.
my expecting are day trade long also.
+1 Reply
kyer watchtrend
@watchtrend, That one played out nice for ya
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