Bitcoin testing major resistance, watch for a potential reversal

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has started to test major resistance at 11962 ( ABC Fibonacci extension , 61.8% Fibonacci extension , horizontal swing high resistance) and a strong reaction could occur at this level to push price down to at least 9470 support ( Fibonacci extension , horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trade closed: target reached: Are we totally kicking some serious pipass with this trade or whut guys?

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Guys, get more real-time updates on our trading ideas here : https://t.me/tickmillroom

This analysis is provided as general market commentary and does not constitute investment advice.
what is next ?
+1 Reply
really love u so much!
Simple but powerful. Your chart is awesome.
NO! It's being manipulated to hell and back. was all good n well till the massive wall was put up at 11900 and the books flooded with orders. Bitcoin was supposed to fuck the banks not give them training ground..

HOLD strong guys. This is fkn stupid that exchanges allow this level of manipulation!
+2 Reply
@angelalee82, I think you need to understand the market a bit more, it's not banks. Financial institutions can not invest in unregulated assets. Hedge funds with high risk porfolio's can. FYI you think the only way to make money is for BTC to go up? 12,000 is a major historical resistance line, day traders and swing traders know this. When the line was tested and not breached, those traders took short positions. That 11,900 wall is meant to drive impatient, uneducated sellers to lower their prices and push btc price down, so the traders short positions increase value.
There are a lot of hands in the pot, the least of which are the banks.
+10 Reply
retiringsoon1 david.liang003
@david.liang003, sound of reason
+1 Reply
josephtse angelalee82
@angelalee82, when was bitcoin ever not manipulated? The entire December move for all cryptos was one ginormous pump Thanks to tether creating like 200B in tethers.
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