Bitcoin broke major support, potential for a big drop!
BTCUSD has reacted off its major resistance level at 11740.0 (horizontal swing high resistance, 50% Fibonacci retracement ) and broke out of its short term ascending support line. A strong drop could occur at this level, pushing price down to our next major support at 9246.0 (horizontal overlap support, 100% Fibonacci extension , 50% Fibonacci retracement )
RSI (21) is also seeing a bearish exit and a corresponding drop in price might occur at this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (21) is also seeing a bearish exit and a corresponding drop in price might occur at this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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