ellynacci

Psychological Resistance Ahead

BITSTAMP:BTCUSD   Bitcoin

Base on our Fibonacci target, BTC could reach another psychological barrier above 70000. Theoretically, round number is unsafe for trading orders as big players could manipulate the price slightly higher, or lower these numbers. In our view, BTC could reach 77000. Price action at this level will determine continuation or reversal. Nearest support is at 45000.

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