Bitcoin target reached! Testing support once again!

21 de dez. de 2017

Bitcoin has shot up from our support area to our major resistance area perfectly before reversing once again. We’re seeing strong support once again at 15455 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support, bullish price action, bullish divergence) and a strong bounce could occur at this level to drive price up to our major level of resistance at 17929 (Fibonacci retracement, horizontal overlap resistance). Our next major level of support is at 13902 (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing major support at 12% and we’re also seeing bullish divergence vs price which could be a precursor to a bounce.

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