MEX_Exchange
Short

Bitcoin Testing Its Resistance, Prepare For a Drop

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Sell below 9060. Stop loss at 9464. Take profit at 7821.
Reason for the trading strategy (technically):
We see price testing its major resistance at 9080 (61.8% Fibonacci extension , 76.4% Fibonacci retracement , 50% Fibonacci retracement , horizontal swing high resistance) where we expect price to react off it, pushing it to its support at 7821 (50% Fibonacci retracement , horizontal pullback support). We do have to be cautious of the intermediate support at 8453 (100% Fibonacci extension , 61.8% Fibonacci extension , 23.6% Fibonacci retracement , horizontal pullback support).
Stochastic (89, 5, 3) tested its resistance at 96% where a corresponding reaction is expected.
Have ever predicted BTC right?
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Upsss
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gracias por este aporte, sin embargo considero que existe la probabilidad de regrese sobre los 6900, a mediados de los primeros dias de mayo. lo incierto de las regulaciones y la situacion de yuan vs petroleo puede variar mucho
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