easyMarkets
Long

BTCUSD approaching support, potential bounce!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD is approaching our first support at 3667 (horizontal overlap support, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong bounce might occur pushing price up to our major resistance at 4099 (horizontal swing high resistance, 61.8% fibonacci retracement ).
Stochastic (21,5,3) is also approaching our support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

Comments

We're playing the short position and have moved our stop losses into the profit and are expecting a bounce as well. Great TA and confirmation from another great content provider as yourself!
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