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BTCUSD analysis

BITSTAMP:BTCUSD   Bitcoin
The price has retraced to the 0.618 fib level, which is also at a support level which suggests a high probability of price reversing to the upside. We can look to buy at the current price with a small SL place below our entry since the market is too volatile. We can expect our first target to be at 0.382(46240.33), once we are at the level, let's see what the price action gives us, so we know whether to keep holding or to close and then go the opposite direction(sell).

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