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Aug 13, 2018 3:55 AM

BTCUSD Approaching Support, Potential Bounce!  Long

Bitcoin / DollarBitfinex

Description

BTCUSD is approaching our first support at 5877 (Horizontal swing low support, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 6827 (horizontal overlap resistance, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
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