Bitcoin testing major resistance, watch for a potential reversal
Updated
Bitcoin has started to test major resistance at 11962 (ABC Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price down to at least 9470 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trade closed: target reached
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