candidindian

Bitcoin retracement.

BITFINEX:BTCUSD   Bitcoin
Hello friends, we can see that Bitcoin is pulling back a bit after a good run and it was expected since 10000 is a major psychological resistance. It was very difficult to break with current volume. Also there was clear bearish divergence on many indicators including RSI so Bitcoin falling is not surprising. Anyways now since Bitcoin has gone below 9600 support (from which it bounced a few times) , next support is around 9150-9250 , its .382 fib level area also its an area with high volume node, so people who missed out are likely to join the rally there. All the best.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.