The news background contributed to the breakdown of the level of support. Correction can lead to a decrease in the area of 6000. In the area of 6000 one can consider the option of opening a long position.
Bitcoin reached multiple key resistance levels:
- Channel resistance line through the highs (Jun-2016 to Now)
- 23.6% Fibo extension from Nov-2013 to Jan-2015
- 3.618 Fibo circle extension from Jan-2017 low to Mar-2017 high
Bitcoin is likely to correct short term and could test the 1250 level...
drawn from zero line, and squaring off, btc running into 1x1 line on weekly, a break above, btc goes much higher, but below on weekly we can see 800 btc, 1x1 is 45 degree line, its pivoting up and sequence states that a low will follow