Bitcoin bounced perfectly as forecasted, prepare for bounce
Bitcoin bounced right up to our first major resistance perfectly as forecast previously! It is now right on major support at 11060 (50% Fibonacci retracement, horizontal swing low support, Fibonacci extension) and a strong bounce could occur at this level to push price up to at least 12912 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (55,5,3) is seeing major support above 7.6% where it is bouncing nicely off and has good upside potential for our bounce.
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 support above 7.6% where it is bouncing nicely off and has good upside potential for our bounce.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
