FXHighway
Short

Bitcoin breaks a key Fibonacci level

BITSTAMP:BTCUSD   Bitcoin / Dollar
151 0 2
Targets: 200
Risk: 385.00

Technical Reasons:

Breaking 76.4% Fibonacci level for the bullish wave from 85.00 to 1163.00 forms a strong negative factor, and bearish trend trip that might target bottom areas, mainly begin at 200.00.

The exponential moving average 50 pushes negatively on the price, and stochastic overlaps bearishly.

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