Tickmill

Bitcoin has reached our major resistance, watch for reversal

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BITFINEX:BTCUSD   Bitcoin
Bitcoin has shot up and reached our major resistance level at 9848 (near 10,000 psychological level, Fibonacci retracement, horizontal overlap resistance) and a strong reversal could occur at this level to push price down to 7938 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance at 92% where a corresponding reaction could occur.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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