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tomm.giannessi23
Apr 26, 2018 9:24 AM

BTCUSD another downtrend line  

Bitcoin / DollarBitfinex

Description

We can se another downtrend line now.
Price reached the daily MA200, found resistance and couldn't break it with upward movement.
Price could find resistance in the 7700-8160$ price zone, where we can find:
- 61.80% fibonacci level of the major bullish structure /grey one)
- the 50% fibonacci level of the latest bullish movement (red one)
- the previous downtrend line that can now act as a support.
the other fibonacci levels may act as support but the strongest zone is there.

Comment

Ichimoku indicator shows resistance in the same zone (blue line)
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