There are two support levels to watch and hope for. If we break Support Zone 1 in the next couple hours, the price will go down to Support Zone 2 and most likely bounce back to resistance level ~17K.
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Fibonacci retracement levels reveal support line at 13300 (Coinbase). We can either bounce off it or go to the next support which is 12700 and 11700.
Nice to see your Fibonacci analysis! As somebody who mainly relies on trendlines I doubt we can break the resistance before touching Support zone 2. I am more short than long at the moment, but will be interesting to see how this will play out ;)
OlegLopatin
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@Kraaanix, agreed, there is a high chance to hit support zone 2. However, it bounced and looking bullish the last couple hours. Asian market will wake up soon and bring some volume. Will see what happens then.)
Kraaanix
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@OlegLopatin, you might be very right since Ethereum just broke the resistance..
ch441
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@Kraaanix, what has this to do with ETH broke resistance? that btc suffer, unlikely in my eyes
MovingWater
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i agree....
KhaledAbdulaziz
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Shmalick
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Thanks man! I still have to place some orders but I prefer to see bitcoin at 20k so I hope we break that resistance soon.
OlegLopatin
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@Shmalick, We definitely will. It is just a matter of time.