Bitcoin could test resistance
Could we see further upside for Bitcoin?
Price action formed a bullish rejection at the 61.8% Fibonacci retracement level which coincides with the upward trend line, since 15th June.
The price is currently held in consolidation in a narrow range between 29255 and 29450.
A breakout of this consolidation area could see BTCUSD rise strongly toward the 30200 resistance level (50% Fibonacci retracement level from the longer term)
Price action formed a bullish rejection at the 61.8% Fibonacci retracement level which coincides with the upward trend line, since 15th June.
The price is currently held in consolidation in a narrow range between 29255 and 29450.
A breakout of this consolidation area could see BTCUSD rise strongly toward the 30200 resistance level (50% Fibonacci retracement level from the longer term)
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