Short

Bitcoin testing major descending resistance, more drop ahead

Bitcoin is testing major resistance at 8587 (Fibonacci retracement, horizontal overlap resistance, descending resistance) and a drop from this level could occur pushing price down to 6064 support (Fibonacci extension, horizontal swing low support). Our next level of resistance is at 9876 (Fibonacci retracement, horizontal pullback resistance).

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Tickmill

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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