BrodieTuck

Bitcoin - Key Fib levels - $12,000 or $10,900?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
TL;DR: Would like to hold above daily 9 ema or risk a fall to $10,900, break above $12,000 would leave very little resistance between here and $14,000 USD

Monthly: Bullish trend still continuing after bullish moving average cross over.

Weekly: Price continuing to struggle at the 50% fib retracement after recovering from the 38.2% level.

Daily: Struggling to stay above the 9 ema , will need to hold this level to retain near-term bullish sentiment, on the bullish side is the low relative volume , this potentially signals a lack of conviction in this stalling in price action.

A decisive move above $12,000 USD would likely prove very bullish for BTC , however it is also quite likely that we could see a near-term dip back towards the 38.2% level (around $10,900 USD). A move above $12,000 would remove the last major resistance between current levels and $14,000 USD.



Trade active: Bitcoin has fallen below the 38.2% fib level, a move to $10,100 USD is on the cards, if we fall below this level, watch for a full retracement to the $9,000 USD level
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